First Solar: Dueling Analyst Calls (FSLR)
This morning shares of First Solar, Inc. (NASDAQ:FSLR) are trading lower after dueling analyst calls. AmTech/JSA Research has removed its sell rating and raised the stock to a ‘Neutral.’ It had a sell rating on the stock since the end…
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This morning shares of First Solar, Inc. (NASDAQ:FSLR) are trading lower after dueling analyst calls.
AmTech/JSA Research has removed its sell rating and raised the stock to a ‘Neutral.’ It had a sell rating on the stock since the end of March. The raised rating of a ‘sell to neutral’ is not going to create much interest. The valuations looked high back then too, but that must have been a painful research call as shares doubled since that "Sell" rating was placed on the stock.
But this morning there is a downgrade: Lazard Capital Markets has trimmed its rating on the stock from a "Buy to Hold" based on valuations. Interestingly enough, the note says that the firms Q2 estimates could be wildly conservative and Lazard is raising estimates for 2009 EPS to $2.75 from $2.50. It believes the stock should trade at a significant premium due to leadership, low cost, outstanding sales visibility, capacity ramping up, and technological enhancements.
Shares are down more than 4% in early trading to just under $114.00. Its 52-week trading range is $23.50 to $119.85.
Jon C. Ogg
July 10, 2007
Jon Ogg can be reached at [email protected]; he does not own securities in the companies he covers.
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