UPDATE: Northland Capital Markets Upgrades First Solar (FSLR) to Market Perform
Northland Capital Markets upgraded First Solar (NASDAQ: FSLR) from Underperform to Market Perform with a price target of $51.00 (from $46.00).
Analyst Colin Rusch said, "With FSLR’s announcement of its intention to list a yield co, we are moving to the sidelines for now until further details are available on the yield co. Upgrading from Underperform to Market Perform; price target increased from $46 to $51 based on the assumption company deploys 3GW into its yield co by the end of 2017 at a CAFD of $0.08/W, with a dividend yield of 3.5% translating into $6B in market cap and discounted one year at 15%."
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 $54.70 yesterday.