Avondale Partners Downgrades First Solar (FSLR) to Underperform

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Go back to Avondale Partners Downgrades First Solar (FSLR) to Underperform

First Solar (FSLR) Raises FY16 EPS Guidance by 30c, Lowers FY17; Reports $500M-$700M Impairment Charges

November 16, 2016 4:07 PM EST

(Updated - November 16, 2016 4:08 PM EST)

First Solar, Inc. (Nasdaq: FSLR) today announced an acceleration of Series 6 production into 2018, with approximately 3 Gigawatts of production expected in 2019. Over the course of 2017 and 2018 the Companys existing production facilities will be converted to Series 6 production and the current Series 4 product will be phased out. As a result of the change in roadmap the Company will cancel its Series 5 product.

The acceleration of the Series 6 roadmap is an important development for First Solar, said Mark Widmar, CEO of First Solar. Following the completion of an internal review... More