UPDATE: Stephens Starts First Solar (FSLR) at Overweight

June 24, 2021 4:26 PM EDT
Get Alerts FSLR Hot Sheet
Price: $91.11 -1.19%

Rating Summary:
    15 Buy, 19 Hold, 8 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 22 | Down: 25 | New: 45
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(Updated - June 24, 2021 4:34 PM EDT)

Stephens analyst Gail Nicholson initiates coverage on First Solar (NASDAQ: FSLR) with a Overweight rating, PT $102.00.

The analyst comments "First Solar (FSLR) is a leading American solar technology company and global provider of responsibly-produced eco-efficient solar modules. The company employs a differentiated technology, CdTe, which offers advantages over the conventional crystalline silicon competition by delivering competitive efficiency, higher real-world energy yield (8% more usable energy per nameplate watt), and long-term reliability. The company has seen strong demand for its Series 6 product (’21 predominately sold out, over 70%+ of volumes contracted in ’22) and we believe its stellar balance sheet (net cash balance of $1.5+ billion a/o 3/31/2021) plus differentiated technology allows the company the ability to potentially capture market share (cumulative global installed PV capacity is expected to double in 5 years) if it pursues expansion opportunities (recently announced 3.3 GW expansion in the U.S. + continues to evaluate further domestic and international opportunities)."

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 $80.19 yesterday.

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