Monday, October 18, 2010

Goldman (NYSE:GS) Maintains "Buy" on First Solar (Nasdaq:FSLR), Raises Price Target

Goldman Sachs (NYSE:GS) said while maintaining their "Buy" on First Solar (Nasdaq:FSLR), they're raising their price target from $155 to $165, citing a couple of new manufacturing plants coming online in 2012.

One of the plants will be based in the U.S., while the other will be in Vietnam.

First Solar has pricing power in thin-film solar panels which compete against silicon modules, which should last for some time.

Goldman marked-to-market USD/EUR to $1.40 from $1.30, increased ASPs +$0.01
higher to $1.35 for FY11, and added the the new capacity in 2H'12. Consequently they increased their earnings per share projections for 2011 from $9.00 to $9.40 and for 2012 from $10.75 to $11.

First Solar closed Friday at $144.56, gaining $2.29, or 1.61 percent.

No comments: