|Bid||52.36 x 900|
|Ask||52.38 x 1100|
|Day's range||51.23 - 52.50|
|52-week range||35.38 - 81.72|
|PE ratio (TTM)||N/A|
|Earnings date||25 Jul 2018 - 30 Jul 2018|
|Forward dividend & yield||N/A (N/A)|
|1y target est||70.93|
Analyst Michael Weinstein upgraded the shares to Neutral from Underperform today, and reiterated a $53 price target, arguing that the recent selloff has more than captured potential downside risk for the stock. Instead of being punished by the tariffs, First Solar "stands to benefit from tariffs on competing products." First Solar is up 0.4% to $52 in recent trading. Robert W. Baird was also optimistic about First Solar last week.
Farhad “Fred” Ebrahimi, former head of software firm Quark, has said that 13 is his lucky number. Indeed, Ebrahimi disclosed that he and his wife Mary Wilkie Ebrahimi purchased an additional $85.2 million in First Solar (FSLR) stock over 13 days from April 7 through June 8. Possibly worse news: After the recent weakness in the shares, Goldman Sachs downgraded First Solar last week to Cautious from Neutral.
Solar stocks have taken a hit recently, hurt by regulatory changes in China that some fear may jeopardize demand and prices globally. Kallo named First Solar (FSLR) to the firm's Fresh Pick list on Monday, writing that the selloff was a 'knee-jerk negative reaction' to the news that China is changing its solar subsidy program, and that it doesn't account for the fact that First Solar's revenue visibility or its "substantial competitive advantage" over its peers. First Solar should continue to be at a significant cost advantage, even with best-in-class Chinese manufacturers, which could lead to upside to 2020 estimates, Kallo says.
First Solar and two other solar stocks had their price targets lowered, as the industry has been rattled by China's unexpected move to slash incentives and subsidies.
Goldman Sachs slashed its price target for solar equipment makers after China's pivot on renewable energy policy.
Shares of First Solar (FSLR) are trading lower today after Goldman Sachs downgraded the shares. Lee lowered his rating on the industry to Cautious from Neutral today, to account for his "tactically more negative stance on component oversupply risks across the supply chain," especially in the second half of the year.
Not only did the policy reform result in a decline in solar stocks but also prompted analysts to reduce their projections for 2018 solar installations in China.
Apparently Trump, aided by advisors drawn from his immediate family, can carry on taking whatever trade steps he likes. The European Central Bank is increasingly hinting it plans to start tightening monetary policy soon, despite the recent slowdown in economic indicators there. Meanwhile, the Dow Jones Industrial Average is looking to open about 57 points higher, while the S&P 500 and the NASDAQ Composite are about even.
China announced on June 1 changes to the subsidies that has underpinned its rise to become the world's largest solar market in recent years. IHS Markit, a market research firm, was preparing to lower its global solar installation forecast for this year by between 5 and 10 gigawatts, or up to 9 percent, analyst Camron Barati said.
President Donald Trump said imposing solar tariffs would help domestic companies. First Solar Inc. has lost almost a quarter of its market value in the past week. Slower demand in China will increase competition, exacerbate a panel glut and drag down prices.
First Solar Inc.'s stock tumbled 7.3% in morning trade Wednesday toward a 7 1/2-month low, after JMP Securities analyst Joseph Osha swung to bearish from bullish on the solar cells maker, citing concerns over policy changes in China. Osha cut his rating to market underpeform, after being at market outperform since May 2017. The stock has now plummeted 20% this month, as trade talks between the U.S. and China continued over the weekend amid threats of tariffs from both sides.
The company is expected to increase its total production capacity from levels of roughly 2 GW in 2017 to about 7.6 GW by 2020, driven by its expansions in Malaysia, Vietnam as well as its plans to add a new module manufacturing facility in the U.S., next to its operations in Ohio. First Solar currently enjoys a significant advantage over its silicon-based panel rivals in the United States, as its thin-film panels are exempt from the 30% tariff imposed on imported silicon solar panel. While there is a tariff exemption for 2.5 GW worth of silicon solar cell imports, it’s fair to assume that First Solar will increase its share of the U.S. market, which is expected to see total installations of 10 GW this year.
On May 24, Ashland (ASH) announced that it will increase maleic anhydride prices by $0.06 per pound. The price increase will be effective on June 7 or as the contract allows. The price increase will likely impact the North American region.
First Solar (FSLR) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.
Canadian Solar's (CSIQ) solar module shipments in the quarter totaled 1,374 megawatts (MW), down 7.2%, from the year-ago level of 1,480 MW.
Brent neared $80 on Tuesday morning before falling back as traders booked profits, but the continued rise of oil prices appears likely as geopolitical tensions continue to rise around the globe
Zacks Investment Ideas feature highlights: Lennar Homes, First Solar, Sunpower, Tesla and JinkoSolar Holdings
Solar panel makers are stepping up U.S. manufacturing, and it isn’t all because of President Donald Trump’s tariffs on imported solar panels. At least three panel companies have announced manufacturing plans in the U.S. in recent months. China’s JinkoSolar Holding Co. is opening a factory in Jacksonville, Fla. SunPower Corp. has agreed to acquire struggling panel maker SolarWorld Americas Inc. First Solar Inc. plans to open a new factory in Ohio, where it already has some panel-making operations.
First Solar received an upgrade and price target increase on a view that its business strategy provides a favorable risk/reward ratio and leads to higher earnings.
Shares of First Solar Inc. surged 3.2% in premarket trade Thursday, after J.P. Morgan turned bullish on the solar panel maker, citing valuation and "excellent" revenue and earnings visibility. Analyst Paul Coster raised his rating to overweight, after being at neutral since he downgraded the stock in March 2016, and bumped up his price target to $85 from $74. Coster said while First Solar is arguably the "highest-quality" stock in solar module space, he believes earnings growth is range bound in the absence of pricing power in a global commodity market.