First Solar Misses Q2 Estimates

- First Solar Misses Q2 Estimates



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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UBS Up Target Price For First Solar to $170, Reiterates Buy

- UBS Up Target Price For First Solar to $170, Reiterates Buy



Jul 1, 2011

UBS increased its price target for First Solar (NASDAQ:FSLR) to $170 from $165 today and reiterated its buy rating on the stock.

The move comes after First Solar received conditional loan guarantees yesterday worth $4.5 billion from the Department of Energy to support three large solar panel projects in California.

Shares of First Solar are trading up 0.31% at $132.68.

First Solar has a potential upside of 14.3% based on a current price of $132.68 and an average consensus analyst price target of $151.63.

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First Solar Wins $4.5 Billion in Conditional Loan Guarantees from the DoE

- First Solar Wins $4.5 Billion in Conditional Loan Guarantees from the DoE



Jun 30, 2011

First Solar Inc (NASDAQ:FSLR) is trading up big today after it was reported that the world's largest manufacturer of thin-film solar modules had won $4.5 billion in conditional loan guarantees from the Department of Energy for three California projects.

The company's Topaz and Desert Sunlight projects, which will have 550 megawatts of capacity each, and its 230-megawatt Solar Ranch project, were each offered low-cost financing needed for construction to commence, the agency said today in an e-mailed statement.

The agency must distribute all of the funds authorized for the loan guarantee program before it expires at the end of September. The agency has offered conditional loans or loan guarantees for 40 clean energy products totaling $38 billion, including $16 billion for solar energy.

First Solar said the construction projects approved today will add 1,400 jobs and that all of the 20 million plus cadmium telluride glass panels used in the projects will be manufactured at its plants in Ohio and in Arizona.

Shares of First Solar are trading up 6.3% at $137.57.

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Cowen Cuts Estimates on Solar Companies

- Cowen Cuts Estimates on Solar Companies



Jun 17, 2011

Cowen Lowered its estimates on First Solar (NASDAQ:FSLR), Suntech (NYSE:STP) and Trina Solar (NYSE:TSL) after revising its model to account for price erosion in the solar industry. The firm believes First Solar will emerge as a long-term winner citing its low cost, strong margins and balance sheet. Cowen believes Suntech is also well positioned due to its product quality and brand name. The firm believes Trina Solar will emerge a winner in a consolidating market citing its capital position and low cost structure. Shares of all three names remain Outperform rated.

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