Aug 4, 2011
First Solar (NASDAQ:FSLR) reported adjusted Q2 EPS of $0.70, missing analyst estimates of $0.92. Revenues for the quarter fell 9.4% to $533 million, less than consensus estimates of $583.42 million.
Rob Gillette, CEO of First Solar said, "First Solar continued to execute in the quarter despite a challenging European market, and our 2011 outlook remains solid due to our differentiated and resilient business model. We expect stronger performance in the second half of 2011 as we build projects from our systems pipeline, develop promising new markets, execute our cost reduction roadmaps and continue to improve module efficiencies."
First Solar (NASDAQ:FSLR) has a potential upside of 42.2% based on a current price of $107.94 and an average consensus analyst price target of $153.5.
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