UPDATE: JPMorgan Downgrades First Solar (FSLR) to Neutral

October 29, 2020 4:40 AM EDT
Get Alerts FSLR Hot Sheet
Price: $86.59 +3.40%

Rating Summary:
    13 Buy, 21 Hold, 8 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 18 | Down: 11 | New: 8
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(Updated - October 29, 2020 6:08 AM EDT)

(updating comment)

JPMorgan analyst Paul Coster downgraded First Solar (NASDAQ: FSLR) from Overweight to Neutral with a price target of $94.00.

The analyst comments "FSLR is now trading at ~24 times 2021E P/E multiple (21 times ex-cash of about $15 per share). We think the stock is close to full-valued here, given that the firm has now largely concluded the successful transition to Series 6 modules and delivered on the earnings surge previously anticipated. The multiple is a multiyear peak for the stock, and may be justified if Series 6 yields to the company a sustainable competitive advantage in a commodity market."

For an analyst ratings summary and ratings history on First Solar click here. For more ratings news on First Solar click here.

Shares of First Solar closed at $93.31 yesterday.

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