Showing posts with label First Solar. Show all posts
Showing posts with label First Solar. Show all posts
Friday, November 2, 2012
Barrick (ABX) (AAA) (AWC) (OIS) (EPL) (FSLR) (MT) Ratings Changes
Barrick Gold Corp (ABX), ALLANA POTASH CORP (AAA), Alumina Limited (AWC), Oil States International, Inc. (OIS), Energy Partners, Ltd. (EPL), First Solar, Inc. (FSLR) and ArcelorMittal ADR (MT) had ratings on them adjusted by analysts.
Raymond James upgraded ALLANA POTASH CORP (AAA) from a "Market Perform" rating to an "Outperform" rating. They have a price target of $1.25 on the company.
Bank of America (BAC) upgraded Alumina Limited (AWC) from a "Neutral" rating to a "Buy" rating.
Raymond James upgraded Oil States International, Inc. (OIS) from a "Market Perform" rating to an "Outperform" rating. They have a price target of $85.00 on the company.
BMO Capital Markets downgraded Barrick Gold Corp. (ABX) from an "Outperform" rating to a "Market Perform" rating. They have a price target of $46.00 on the company.
Global Hunter Securities downgraded Energy Partners, Ltd. (EPL) from a "Buy" rating to an "Accumulate" rating. They have a price target of $25.00 on the company.
Cantor Fitzgerald downgraded First Solar, Inc. (FSLR) from a "Buy" rating to a "Hold" rating.
Natixis downgraded ArcelorMittal ADR (MT) from a "Buy" rating to a "Neutral" rating.
Friday, October 5, 2012
First Solar (FSLR) (SNP) (BNK) (MT) (PDS) (TE) (AXU) (VNR) Ratings Changes and Initiations
First Solar, Inc. (FSLR), China Petroleum and Chemical (SNP), Bankers Petroleum Ltd. (BNK), ArcelorMittal (MT), Precision Drilling (PDS), TECO Energy, Inc. (TE), Alexco Resource Corp (AXU) and Vanguard Natural Resources (VNR) had ratings adjusted or initiated on them.
Bernstein upgraded China Petroleum and Chemical (SNP) from a "Market Perform" rating to an "Outperform" rating.
Raymond James downgraded Bankers Petroleum Ltd. (BNK) from an "Outperform" rating to a "Market Perform" rating.
Avian Securities downgraded First Solar, Inc. (FSLR) from a "Positive" rating to a "Negative" rating.
Citigroup (C) downgraded ArcelorMittal (MT) from a "Buy" rating to a "Neutral" rating.
Desjardins downgraded Precision Drilling (PDS) from a "Hold" rating.
Zacks downgraded TECO Energy, Inc. (TE) from a "Neutral" rating to an "Underperform" rating. They have a price target of $16.00 on the company.
Stonecap Securities initiated coverage on Alexco Resource Corp (AXU). They placed an "Outperform" rating on the company.
UBS AG initiated coverage on Vanguard Natural Resources (VNR). They placed a "Buy" rating and price target of $33.00 on the company.
Monday, February 27, 2012
Oasis (OAS) (FSLR) (SPWR) (STP) (TSL) (NWSA) (FULT) Ratings
Oasis Petroleum Inc. (OAS), First Solar, Inc. (FSLR), SunPower (SPWR), Suntech Power (STP), Trina Solar (TSL), News Corp. (NWSA) and Fulton (FULT) had ratings and price targets on them adjusted by analysts.
Sterne Agee upgraded Oasis Petroleum Inc. (OAS) from a "Neutral" rating to a "Buy" rating. They have a price target of $45.00 on the company.
Cowen downgraded First Solar, Inc. (FSLR) from an "Outperform" rating to a "Neutral" rating.
Cowen downgraded SunPower (SPWR) from an "Outperform" rating to a "Neutral" rating.
Cowen downgraded Suntech Power (STP) from an "Outperform" rating to a "Neutral" rating.
Cowen downgraded Trina Solar (TSL) from an "Outperform" rating to a "Neutral" rating.
Goldman Sachs upgraded News Corp. (NWSA) from a "Neutral" rating to a "Buy" rating. They have a price target of $24.00 on the company.
Guggenheim upgraded Fulton (FULT) from a "Neutral" rating to a "Buy" rating. They raised their price target from $10.50 to $11.50 on the company.
Sterne Agee upgraded Oasis Petroleum Inc. (OAS) from a "Neutral" rating to a "Buy" rating. They have a price target of $45.00 on the company.
Cowen downgraded First Solar, Inc. (FSLR) from an "Outperform" rating to a "Neutral" rating.
Cowen downgraded SunPower (SPWR) from an "Outperform" rating to a "Neutral" rating.
Cowen downgraded Suntech Power (STP) from an "Outperform" rating to a "Neutral" rating.
Cowen downgraded Trina Solar (TSL) from an "Outperform" rating to a "Neutral" rating.
Goldman Sachs upgraded News Corp. (NWSA) from a "Neutral" rating to a "Buy" rating. They have a price target of $24.00 on the company.
Guggenheim upgraded Fulton (FULT) from a "Neutral" rating to a "Buy" rating. They raised their price target from $10.50 to $11.50 on the company.
Wednesday, February 15, 2012
LDK (LDK) (FSLR) (WFR) (SPWR) (STP) (JASO) (YGE) (TSL) Under Pressure
Solar companies LDK (NYSE:LDK), First Solar (NASDAQ:FSLR), MEMC Electronic Materials (NYSE:WFR), SunPower (NASDAQ:SPWR), Suntech (NYSE:STP), JA Solar (NASDAQ:JASO), Yingli (NYSE:YGE) and Trina Solar(NYSE:TSL) were under pressure today on news Germany’s feed-in-tariff will probably be cut even more than expected, which would hit the industry even harder than it has been from prior cuts there.
Germany, along with Italy, is among the largest consumers of solar power in the world.
According to Citigroup (NYSE:C) analyst Timothy Arcuri, cuts in subsidies for April could be much worse than the consensus 10 percent to 20 percent cuts being looked for by the street. He sees cuts beginning at 20 percent and being as high as 35 percent for April, 2012.
Arcuri sees all solar companies being hit hard if his projections are accurate. Even if they aren't as high as he sees, it is expected they will be higher than originally estimated, and will put downward pressure on the industry even more than it has been.
Vishal Shah, an analyst for Deutsche Bank (NYSE:DB) sees an April subsidy cut from Germany of 15 percent, with a additional monthly cuts of 2 percent afterwards. Shah said there will also likely be a subsidy cap on solar as the EU economy remains weakened.
JinkoSolar was downgraded by Auriga from a "Hold" rating to a "Sell" rating Tuesday, while Trina and Yingli were both downgraded by Auriga from "Hold" to "Sell" as well.
We should see a number of downgrades in the solar sector as the data is analysed.
Germany, along with Italy, is among the largest consumers of solar power in the world.
According to Citigroup (NYSE:C) analyst Timothy Arcuri, cuts in subsidies for April could be much worse than the consensus 10 percent to 20 percent cuts being looked for by the street. He sees cuts beginning at 20 percent and being as high as 35 percent for April, 2012.
Arcuri sees all solar companies being hit hard if his projections are accurate. Even if they aren't as high as he sees, it is expected they will be higher than originally estimated, and will put downward pressure on the industry even more than it has been.
Vishal Shah, an analyst for Deutsche Bank (NYSE:DB) sees an April subsidy cut from Germany of 15 percent, with a additional monthly cuts of 2 percent afterwards. Shah said there will also likely be a subsidy cap on solar as the EU economy remains weakened.
JinkoSolar was downgraded by Auriga from a "Hold" rating to a "Sell" rating Tuesday, while Trina and Yingli were both downgraded by Auriga from "Hold" to "Sell" as well.
We should see a number of downgrades in the solar sector as the data is analysed.
Tuesday, February 7, 2012
First Solar (FSLR) (SCHW) (DNDN) (PXD) (GSM) (BIRT) (BIRT) (CVA) Ratings, Price Targets
First Solar, Inc. (NASDAQ: FSLR), Charles Schwab (NASDAQ: SCHW), Dendreon Co. (NASDAQ: DNDN), Pioneer Natural Resources (NYSE: PXD), Globe Specialty Metals, Inc. (NYSE: GSM), Actuate Co. (NASDAQ: BIRT), Actuate Co. (NASDAQ: BIRT) and Covanta (NYSE: CVA) had ratings and price targets on them adjusted by analysts.
Charles Schwab (SCHW) was upgraded by ISI Group from a “Hold” rating to a “Buy” rating. They have a price target of $13.00 on the company, down from $15.00.
Dendreon Co. (DNDN) had its “Buy” rating reiterated by Canaccord Genuity.
First Solar, Inc. (FSLR) had its price target raised by Auriga from $41.00 to $53.00. They have a “Buy” rating on the company.
Pioneer Natural Resources (PXD) had its price target raised by Deutsche Bank (NYSE:DB) to $108.00.
Globe Specialty Metals, Inc. (GSM) was downgraded by JPMorgan Chase & Co. (NYSE:JPM) from an “Overweight” rating to a “Neutral” rating.
Actuate Co. (BIRT) had its “Buy” rating reiterated by Drexel Hamilton. They have a price target of $8.00 on the company.
Covanta (CVA) had its “Buy” rating reiterated by Wunderlich. They have a price target of $21.00 on the company.
Charles Schwab (SCHW) was upgraded by ISI Group from a “Hold” rating to a “Buy” rating. They have a price target of $13.00 on the company, down from $15.00.
Dendreon Co. (DNDN) had its “Buy” rating reiterated by Canaccord Genuity.
First Solar, Inc. (FSLR) had its price target raised by Auriga from $41.00 to $53.00. They have a “Buy” rating on the company.
Pioneer Natural Resources (PXD) had its price target raised by Deutsche Bank (NYSE:DB) to $108.00.
Globe Specialty Metals, Inc. (GSM) was downgraded by JPMorgan Chase & Co. (NYSE:JPM) from an “Overweight” rating to a “Neutral” rating.
Actuate Co. (BIRT) had its “Buy” rating reiterated by Drexel Hamilton. They have a price target of $8.00 on the company.
Covanta (CVA) had its “Buy” rating reiterated by Wunderlich. They have a price target of $21.00 on the company.
Tuesday, January 17, 2012
Denison (DNN) (FSLR) (WLT) (CMC) (STLD) (ZQK) Ratings, Price Targets
Denison Mines (NYSE: DNN), First Solar, Inc. (NASDAQ: FSLR), Walter Energy (NYSE: WLT), Commercial Metals (NYSE: CMC), Steel Dynamics, Inc. (NASDAQ: STLD) and Quiksilver, Inc. (NYSE: ZQK) ratings and price targets.
Denison Mines (DNN) was downgraded by TD Newcrest from a “Hold” rating to a “Reduce” rating.
First Solar, Inc. (FSLR) had its “Sell” rating reiterated by Cantor Fitzgerald.
Walter Energy (WLT) had its “Buy” rating reiterated by Dahlman Rose.
Goldman Sachs (NYSE:GS) initiated coverage on Commercial Metals (CMC). They placed a “Sell” rating and a price target of $10.00 on the company.
Deutsche Bank (NYSE:DB) initiated coverage on Steel Dynamics, Inc. (STLD). They placed a “Buy” rating and a price target of $19.00 on
the company.
Quiksilver, Inc. (ZQK) had its price target raised by at Auriga to $5.00.
Denison Mines (DNN) was downgraded by TD Newcrest from a “Hold” rating to a “Reduce” rating.
First Solar, Inc. (FSLR) had its “Sell” rating reiterated by Cantor Fitzgerald.
Walter Energy (WLT) had its “Buy” rating reiterated by Dahlman Rose.
Goldman Sachs (NYSE:GS) initiated coverage on Commercial Metals (CMC). They placed a “Sell” rating and a price target of $10.00 on the company.
Deutsche Bank (NYSE:DB) initiated coverage on Steel Dynamics, Inc. (STLD). They placed a “Buy” rating and a price target of $19.00 on
the company.
Quiksilver, Inc. (ZQK) had its price target raised by at Auriga to $5.00.
Monday, November 7, 2011
Transocean (RIG) (SGEN) (SD) (PCG) (MED) Price Targets, Downgrade
SunPower Co. (NASDAQ: SPWRA), First Solar, Inc. (NASDAQ: FSLR), Starbucks (NASDAQ: SBUX), DirecTV (NYSE: DTV) and Estee Lauder Companies Inc. (NYSE: EL) had price targets on them adjusted by analysts or a downgrade.
SunPower Co. (SPWRA) was downgraded by Macquarie from a “Neutral” rating to an “Underperform” rating.
First Solar, Inc. (FSLR) had its price target raised by UBS AG (NYSE:UBS) from $50.00to $53.00. They have a “Neutral” rating on the company.
Starbucks (SBUX) had its price target raised by Deutsche Bank (NYSE:DB) from $46.00 to $48.00. They have a “Buy” rating on the company.
DirecTV (DTV) had its price target lowered by Brean Murray to $59.00.
Estee Lauder Companies Inc. (EL) had its price target raised by
Stifel Nicolaus from $113.00 to $130.00. They have a “Buy” rating on the company.
SunPower Co. (SPWRA) was downgraded by Macquarie from a “Neutral” rating to an “Underperform” rating.
First Solar, Inc. (FSLR) had its price target raised by UBS AG (NYSE:UBS) from $50.00to $53.00. They have a “Neutral” rating on the company.
Starbucks (SBUX) had its price target raised by Deutsche Bank (NYSE:DB) from $46.00 to $48.00. They have a “Buy” rating on the company.
DirecTV (DTV) had its price target lowered by Brean Murray to $59.00.
Estee Lauder Companies Inc. (EL) had its price target raised by
Stifel Nicolaus from $113.00 to $130.00. They have a “Buy” rating on the company.
First Solar (FSLR) (FFIV) ( EL) (DTV) (FLR) (EXLS) Ratings, Price Targets
First Solar, Inc. (NASDAQ: FSLR), F5 Networks (NASDAQ: FFIV), Estee Lauder Companies Inc. (NYSE: EL), DirecTV (NYSE: DTV), Fluor Co. (NYSE: FLR) and ExlService Holdings, Inc. (NASDAQ: EXLS) had ratings on them reiterated or price targets adjusted.
Jefferies (NYSE:JEF) reiterated its (Hold) rating on First Solar, Inc. (FSLR). They have a price target of $47.00 on the company.
FBN Securities reiterated its (Outperform) rating on F5 Networks (FFIV). They have a price target of $115.00 on the company.
Estee Lauder Companies Inc. (EL) had its price target raised by UBS AG (NYSE:UBS) from $118.00 to $135.00. They have a “Buy” rating on the company.
DirecTV (NYSE: DTV) had its price target raised by Barclays Capital from $53.00 to $59.00. They have an “Overweight” rating on the company.
Fluor Co. (FLR) had its price target lowered by UBS AG from $77.00 to $70.00. They have a “Buy” rating on the company.
ExlService Holdings, Inc. (EXLS) had its price target raised at Goldman Sachs (NYSE:GS) to $28.00.
Jefferies (NYSE:JEF) reiterated its (Hold) rating on First Solar, Inc. (FSLR). They have a price target of $47.00 on the company.
FBN Securities reiterated its (Outperform) rating on F5 Networks (FFIV). They have a price target of $115.00 on the company.
Estee Lauder Companies Inc. (EL) had its price target raised by UBS AG (NYSE:UBS) from $118.00 to $135.00. They have a “Buy” rating on the company.
DirecTV (NYSE: DTV) had its price target raised by Barclays Capital from $53.00 to $59.00. They have an “Overweight” rating on the company.
Fluor Co. (FLR) had its price target lowered by UBS AG from $77.00 to $70.00. They have a “Buy” rating on the company.
ExlService Holdings, Inc. (EXLS) had its price target raised at Goldman Sachs (NYSE:GS) to $28.00.
First Solar (FSLR) (FFIV) (ETE) (ARO) (ANF) (CBS) Ratings, Price Targets
First Solar, Inc. (NASDAQ: FSLR), F5 Networks (NASDAQ: FFIV), Energy Transfer Equity (NYSE: ETE), Aeropostale, Inc. (NYSE: ARO), Abercrombie & Fitch (NYSE: ANF) and CBS (NYSE: CBS) had ratings on them reiterated or price targets adjusted.
Goldman Sachs (NYSE:GS) reiterated its (Buy) rating on First Solar, Inc. (FSLR). They have a price target of $60.00 on the company.
F5 Networks (FFIV) was given a reiterated “Hold” by Wunderlich. They have a price target of $93.00 on the company.
Energy Transfer Equity (ETE) had its price target lowered by Morgan Keegan to $49.00.
Aeropostale, Inc. (ARO) had its price target raised by FBR Capital from $12.00 to $16.00. They have a “Market Perform” rating on the company.
Abercrombie & Fitch (ANF) had its price target lowered by FBR Capital from $85.00 to $75.00. They have an “Outperform” rating on the company.
CBS (CBS) had its price target raised by Goldman Sachs (NYSE:GS) to $26.00.
Goldman Sachs (NYSE:GS) reiterated its (Buy) rating on First Solar, Inc. (FSLR). They have a price target of $60.00 on the company.
F5 Networks (FFIV) was given a reiterated “Hold” by Wunderlich. They have a price target of $93.00 on the company.
Energy Transfer Equity (ETE) had its price target lowered by Morgan Keegan to $49.00.
Aeropostale, Inc. (ARO) had its price target raised by FBR Capital from $12.00 to $16.00. They have a “Market Perform” rating on the company.
Abercrombie & Fitch (ANF) had its price target lowered by FBR Capital from $85.00 to $75.00. They have an “Outperform” rating on the company.
CBS (CBS) had its price target raised by Goldman Sachs (NYSE:GS) to $26.00.
Friday, October 28, 2011
First Solar (FSLR) (FOSL) (FTI) (GR) (HPY) (HS) Downgraded
First Solar, Inc. (NASDAQ: FSLR), Fossil (NASDAQ: FOSL), FMC Tech (NYSE: FTI), Goodrich Co. (NYSE: GR), Heartland Payment Systems Inc. (NYSE: HPY) and HealthSpring, Inc. (NYSE: HS) get analyst downgrades.
Benchmark Co. downgraded Fossil (FOSL) from a “Buy” rating to a “Hold” rating. They have a price target of $108.00 on them.
Ardour Capital downgraded First Solar, Inc. (FSLR) to a “Hold” rating. They have a price target of $55.00 on the company.
Morgan Stanley (NYSE:MS) downgraded FMC Tech (FTI) from an “Equal Weight” rating to an “Underweight” rating.
Wells Fargo & Co. (NYSE:WFC) downgraded Goodrich Co. (GR) from an “Outperform” rating to a “Market Perform” rating.
SunTrust (NYSE:STI) downgraded Heartland Payment Systems Inc. (HPY) from a “Buy” rating to a “Neutral” rating.
Susquehanna downgraded HealthSpring, Inc. (NYSE: HS) from a “Positive” rating to a “Neutral” rating.
Benchmark Co. downgraded Fossil (FOSL) from a “Buy” rating to a “Hold” rating. They have a price target of $108.00 on them.
Ardour Capital downgraded First Solar, Inc. (FSLR) to a “Hold” rating. They have a price target of $55.00 on the company.
Morgan Stanley (NYSE:MS) downgraded FMC Tech (FTI) from an “Equal Weight” rating to an “Underweight” rating.
Wells Fargo & Co. (NYSE:WFC) downgraded Goodrich Co. (GR) from an “Outperform” rating to a “Market Perform” rating.
SunTrust (NYSE:STI) downgraded Heartland Payment Systems Inc. (HPY) from a “Buy” rating to a “Neutral” rating.
Susquehanna downgraded HealthSpring, Inc. (NYSE: HS) from a “Positive” rating to a “Neutral” rating.
Thursday, October 27, 2011
First Solar (FSLR) (NFLX) (BRCM) (SXL) (CHRW) (CPLA) (DV) Ratings, Price Target Changes
First Solar, Inc. (NASDAQ: FSLR), Netflix, Inc. (NASDAQ: NFLX), Broadcom Corp (NASDAQ: BRCM), SunoCo Logistics Partners LP (NYSE: SXL), C.H. Robinson Worldwide, Inc. (NASDAQ: CHRW), Capella Education (NASDAQ: CPLA) and DeVry Inc. (NYSE: DV) had ratings and price targets adjusted by analysts.
First Solar, Inc. (FSLR) had its price target lowered by Wunderlich from $65.00 to $50.00. They have a “Hold” rating on the company.
Netflix, Inc. (NFLX) was upgraded by Hudson Square Research to a “Buy” rating.
Broadcom Corp. (BRCM) had its price target lowered by RBC Capital from $42.00 to $40.00. They have a “Sector Perform” rating on the company.
SunoCo Logistics Partners LP (SXL) had its price target raised by Morgan Keegan to $101.00.
C.H. Robinson Worldwide, Inc. (CHRW) was downgraded by JPMorgan Chase & Co. (NYSE:JPM) from a “Neutral” rating to an “Underweight” rating. They have a price target of $72.00 on the company.
Capella Education (CPLA) had its price target lowered by Oppenheimer to $47.00.
DeVry Inc. (DV) had its price target lowered by FBR Capital from $52.00 to $50.00. They have an “Outperform” rating on the company.
First Solar, Inc. (FSLR) had its price target lowered by Wunderlich from $65.00 to $50.00. They have a “Hold” rating on the company.
Netflix, Inc. (NFLX) was upgraded by Hudson Square Research to a “Buy” rating.
Broadcom Corp. (BRCM) had its price target lowered by RBC Capital from $42.00 to $40.00. They have a “Sector Perform” rating on the company.
SunoCo Logistics Partners LP (SXL) had its price target raised by Morgan Keegan to $101.00.
C.H. Robinson Worldwide, Inc. (CHRW) was downgraded by JPMorgan Chase & Co. (NYSE:JPM) from a “Neutral” rating to an “Underweight” rating. They have a price target of $72.00 on the company.
Capella Education (CPLA) had its price target lowered by Oppenheimer to $47.00.
DeVry Inc. (DV) had its price target lowered by FBR Capital from $52.00 to $50.00. They have an “Outperform” rating on the company.
First Solar (FSLR) (BRCM) (HGSI) (PNRA) (CHRW) (FFIV) Ratings and PTs
First Solar, Inc. (NASDAQ: FSLR), Broadcom Corp (NASDAQ: BRCM), Human Genome Sciences (NASDAQ: HGSI), Panera Bread Company (NASDAQ: PNRA), C.H. Robinson Worldwide, Inc. (NASDAQ: CHRW) and F5 Networks (NASDAQ: FFIV) had ratings and price target adjustments and reiterations from analysts.
First Solar, Inc. (FSLR) was downgraded by Jefferies (NYSE:JEF) from a “Buy” rating to a “Hold” rating. They have a price target of $47.00 on the company.
Broadcom Corp. (BRCM) had its price target lowered by Needham & Company from $43.00 to $40.00. They have a “Buy” rating on the company.
Human Genome Sciences (HGSI) had its price target lowered by Piper Jaffray (NYSE:PJC) to $15.00.
Panera Bread Company (PNRA) had its price target raised by
Piper Jaffray to $156.00. They have an “Overweight” rating on the company.
Deutsche Bank (NYSE:DB) reiterated its "Hold" rating on C.H. Robinson Worldwide, Inc. (CHRW).
F5 Networks (FFIV) had its price target lowered by Wunderlich from $87.00 to $83.00. They have a “Buy” rating on the company.
First Solar, Inc. (FSLR) was downgraded by Jefferies (NYSE:JEF) from a “Buy” rating to a “Hold” rating. They have a price target of $47.00 on the company.
Broadcom Corp. (BRCM) had its price target lowered by Needham & Company from $43.00 to $40.00. They have a “Buy” rating on the company.
Human Genome Sciences (HGSI) had its price target lowered by Piper Jaffray (NYSE:PJC) to $15.00.
Panera Bread Company (PNRA) had its price target raised by
Piper Jaffray to $156.00. They have an “Overweight” rating on the company.
Deutsche Bank (NYSE:DB) reiterated its "Hold" rating on C.H. Robinson Worldwide, Inc. (CHRW).
F5 Networks (FFIV) had its price target lowered by Wunderlich from $87.00 to $83.00. They have a “Buy” rating on the company.
Monday, November 1, 2010
Citigroup (NYSE:C), Deutsche (NYSE:DB), Auriga, Macquarie Give First Solar
First Solar (Nasdaq:FSLR) has garnered a lot of attention since their most recent quarterly report, drawing mixed rating results from Citigroup (NYSE:C), Deutsche Bank (NYSE:DB), Auriga and Macquarie.
The good news from their recent report was earnings per share exceeded analysts' expectations, with normalized EPS coming in at $2.21, although excluding one-time items, the company earned $1.87 a share, missing the analyst estimate of $1.94 per share, which is what most were looking at.
The bad news is cost rose during the quarter, generating questions as to if the industry cost leader is experiencing sustainable cost challenges, or they can rein it back in.
First Solar had their average cost per watt increase to 77 cents, a boost of 1 cent. That was based upon focusing on improving production lines, which ended up slowing things down.
Chief Executive Officer Rob Gillette said in the conference call of the company that they're working on reducing costs as production capacity is poised to double in 2012.
Again, cost performance going forward, and thus margins and earnings, will be determined on whether this was specific to the quarter, or a long-term
reality. No one knows at this time which it is. It generated concerns because it's the first time since the second quarter of 2008 the cost-per-watt increased sequentially.
Auriga said, "Core cost per watt increased slightly due to manufacturing
changes made in the quarter. While this is likely a one-time event, it does mark the first time since 2Q08 that cost-per-watt increased sequentially. With increased q/q utilization and module efficiency, concern might arise that cost reduction efforts are at least stalling."
Auriga maintained their "Buy" rating and $175 price target on First Solar.
Citigroup increased their price target on First Solar from $145 to $150,
although they are much lower than the other price targets mentioned here.
Macquarie downgraded First Solar from "Buy" to "Neutral," and Deutsche Bank downgraded them from "Buy" to "Hold." Macquarie has a price target of $175 on the solar company, raising it from $170.
The good news from their recent report was earnings per share exceeded analysts' expectations, with normalized EPS coming in at $2.21, although excluding one-time items, the company earned $1.87 a share, missing the analyst estimate of $1.94 per share, which is what most were looking at.
The bad news is cost rose during the quarter, generating questions as to if the industry cost leader is experiencing sustainable cost challenges, or they can rein it back in.
First Solar had their average cost per watt increase to 77 cents, a boost of 1 cent. That was based upon focusing on improving production lines, which ended up slowing things down.
Chief Executive Officer Rob Gillette said in the conference call of the company that they're working on reducing costs as production capacity is poised to double in 2012.
Again, cost performance going forward, and thus margins and earnings, will be determined on whether this was specific to the quarter, or a long-term
reality. No one knows at this time which it is. It generated concerns because it's the first time since the second quarter of 2008 the cost-per-watt increased sequentially.
Auriga said, "Core cost per watt increased slightly due to manufacturing
changes made in the quarter. While this is likely a one-time event, it does mark the first time since 2Q08 that cost-per-watt increased sequentially. With increased q/q utilization and module efficiency, concern might arise that cost reduction efforts are at least stalling."
Auriga maintained their "Buy" rating and $175 price target on First Solar.
Citigroup increased their price target on First Solar from $145 to $150,
although they are much lower than the other price targets mentioned here.
Macquarie downgraded First Solar from "Buy" to "Neutral," and Deutsche Bank downgraded them from "Buy" to "Hold." Macquarie has a price target of $175 on the solar company, raising it from $170.
Thursday, October 28, 2010
First Solar (Nasdaq:FSLR), Suntech (NYSE:STP), Energy Conversion (Nasdaq:ENER), Evergreen (Nasdaq:ESLR) Predicted to Underperform
First Solar (Nasdaq:FSLR), Suntech (NYSE:STP), Energy Conversion Devices (Nasdaq:ENER), and Evergreen Solar (Nasdaq:ESLR) do not impress Wedbush too much, as they analyze numerous companies in the solar sector, of which the above-mentioned are the worst in their view.
The honeymoon may be over for most in the solar segment, as subsidies are lowered or eliminated, and feed-in-tariff in 2010 and 2011 affect the margins of some companies, especially First Solar, which could get it hard by the changes.
Most companies that have proven sales are working hard to lower costs in the emerging solar environment, as the weak global conditions continue to put pressure on this high-cost energy sector.
It probably won't be that long into the future before the inevitable consolidation begins, as scale will be needed to drive down costs and price if the solar industry wants to survive in the new natural gas energy world, which has turned the energy sector on its head.
The honeymoon may be over for most in the solar segment, as subsidies are lowered or eliminated, and feed-in-tariff in 2010 and 2011 affect the margins of some companies, especially First Solar, which could get it hard by the changes.
Most companies that have proven sales are working hard to lower costs in the emerging solar environment, as the weak global conditions continue to put pressure on this high-cost energy sector.
It probably won't be that long into the future before the inevitable consolidation begins, as scale will be needed to drive down costs and price if the solar industry wants to survive in the new natural gas energy world, which has turned the energy sector on its head.
Wednesday, October 27, 2010
First Solar (Nasdaq:FSLR) An Investment, Not a Trading Stock
Communicating why it maintains a "Buy" rating on First Solar, Inc. (Nasdaq:FSLR), Auriga likes the strategy for the long term the management is enacting.
"Within our solar coverage, we continue to regard First Solar as an investment rather than a trading stock. Management has demonstrated the wherewithal to invest throughout the annual PV cycle while the project business brings stability to the business model in terms of both module placement and profitability. As the growth of the project business accelerates, the timing of revenue recognition will be difficult to model, thus investors, not traders, need to value the stock over longer investment horizons. Our profitability estimates continue to be above the Street consensus through 2011, and our initial EPS estimate on 2012 approaches $11/share," said Auriga.
Although possibly being too optimistic, Auriga sees earnings per share for 2010 having an upside, 2011 being too bearish for earnings per share, and expansion capacity driving the earnings per share to $11 in 2012.
Sounds more like a cheerleader in some ways rather than analysis.
First Solar closed at $148.15 Monday, gaining $1.00, or 0.68 percent. Auriga has a price target of $175 on them.
"Within our solar coverage, we continue to regard First Solar as an investment rather than a trading stock. Management has demonstrated the wherewithal to invest throughout the annual PV cycle while the project business brings stability to the business model in terms of both module placement and profitability. As the growth of the project business accelerates, the timing of revenue recognition will be difficult to model, thus investors, not traders, need to value the stock over longer investment horizons. Our profitability estimates continue to be above the Street consensus through 2011, and our initial EPS estimate on 2012 approaches $11/share," said Auriga.
Although possibly being too optimistic, Auriga sees earnings per share for 2010 having an upside, 2011 being too bearish for earnings per share, and expansion capacity driving the earnings per share to $11 in 2012.
Sounds more like a cheerleader in some ways rather than analysis.
First Solar closed at $148.15 Monday, gaining $1.00, or 0.68 percent. Auriga has a price target of $175 on them.
Friday, October 22, 2010
First Solar's (Nasdaq:FSLR) Expansion Should Double Capacity
The demand for solar panels has First Solar (Nasdaq:FSLR) entering into an expansion phase, with new plants planned for in the U.S. and Vietnam.
First Solar spokesman Alan Bernheimer said, "We are sold out. Basically demand exceeds our manufacturing capacity to supply."
This and other recent expansions will basically double the production capacity of the company.
In 2012 First Solar should be able to produce over 2.7 gigawatts.
Each new plant should eventually employ about 600 workers each.
With their highest demand in Asia and the U.S., First Solar wants to build the facilities close to their top markets. Vietnam is a target because of their solar resources, surpassing China and India as the desired location.
It is thought the U.S. plant will be located in the American southwest, as that's where their largest domestic markets are located.
First Solar spokesman Alan Bernheimer said, "We are sold out. Basically demand exceeds our manufacturing capacity to supply."
This and other recent expansions will basically double the production capacity of the company.
In 2012 First Solar should be able to produce over 2.7 gigawatts.
Each new plant should eventually employ about 600 workers each.
With their highest demand in Asia and the U.S., First Solar wants to build the facilities close to their top markets. Vietnam is a target because of their solar resources, surpassing China and India as the desired location.
It is thought the U.S. plant will be located in the American southwest, as that's where their largest domestic markets are located.
Wednesday, October 20, 2010
Suntech (NYSE:STP), First Solar (Nasdaq:FSLR), Energy Conversion Devices (Nasdaq:ENER) Rated by Raymond James
For better or worse, the solar sector continues to garner a lot of attention, as Raymond James rated Suntech (NYSE:STP), First Solar (Nasdaq:FSLR) and Energy Conversion Devices (Nasdaq:ENER).
Suntech was upgraded by Raymond James from "Underperform" to "Market Perform." They had also been upgraded by Deutsche Bank AG (NYSE:DB) from "Hold" to "Buy."
For First Solar Raymond downgraded them from "Outperform" to "Market Perform," and Energy Conversion Devices was downgraded from "Market Perform" to "Underperform."
First Solar closed Tuesday at $143.92, falling $3.15, or 2.14 percent. Suntech ended the session at $8.85, dropping $0.59, or 6.25 percent. Energy Conversion Devices closed at $4.64, losing $0.35, or 7.01 percent.
Suntech was upgraded by Raymond James from "Underperform" to "Market Perform." They had also been upgraded by Deutsche Bank AG (NYSE:DB) from "Hold" to "Buy."
For First Solar Raymond downgraded them from "Outperform" to "Market Perform," and Energy Conversion Devices was downgraded from "Market Perform" to "Underperform."
First Solar closed Tuesday at $143.92, falling $3.15, or 2.14 percent. Suntech ended the session at $8.85, dropping $0.59, or 6.25 percent. Energy Conversion Devices closed at $4.64, losing $0.35, or 7.01 percent.
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.
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.
Friday, October 8, 2010
Citigroup (NYSE:C) Increases First Solar (NASDAQ:FSLR) Price Target, Reiterates Hold
First Solar, Inc. had its price target raised by Citigroup Inc. (NYSE:C), while have its "Hold" rating maintained by the financial giant.
"On unchanged volume and module/EPC mix assumptions, we are assuming -$0.03-
0.05/W better module pricing. As a result, we are raising F2011 EPS from $7.47 to $8.08 (Street $8.26). On 2010, however, we are trimming EPS in each of CQ3 and CQ4 by - $0.05-0.10 as we true up our model to reflect slightly more aggressive near-term pricing as FSLR moves to take share in these new European markets. While trimming, we are notably now just in-line w/consensus so we don't see a lot of downside risk to estimates in 2H:10. Our F2012 EPS of $10.59 is largely unchanged. On the back of our new estimates, our target is tweaked slightly higher to $145 meaning FSLR is fairly valued at this price. Maintain Hold," said Citi analyst Timothy M. Arcuri in a note.
First Solar announced it had landed sales agreements with seven existing customers for a 380-megawatt increase for orders in 2011. For the most part the deals are located in Europe.
They are also increasing manufacturing capacity in France and Germany to meet demand in the region.
The company closed Thursday at $140.56, gaining $1.92, or 1.38 percent.
"On unchanged volume and module/EPC mix assumptions, we are assuming -$0.03-
0.05/W better module pricing. As a result, we are raising F2011 EPS from $7.47 to $8.08 (Street $8.26). On 2010, however, we are trimming EPS in each of CQ3 and CQ4 by - $0.05-0.10 as we true up our model to reflect slightly more aggressive near-term pricing as FSLR moves to take share in these new European markets. While trimming, we are notably now just in-line w/consensus so we don't see a lot of downside risk to estimates in 2H:10. Our F2012 EPS of $10.59 is largely unchanged. On the back of our new estimates, our target is tweaked slightly higher to $145 meaning FSLR is fairly valued at this price. Maintain Hold," said Citi analyst Timothy M. Arcuri in a note.
First Solar announced it had landed sales agreements with seven existing customers for a 380-megawatt increase for orders in 2011. For the most part the deals are located in Europe.
They are also increasing manufacturing capacity in France and Germany to meet demand in the region.
The company closed Thursday at $140.56, gaining $1.92, or 1.38 percent.
Tuesday, October 5, 2010
JA Solar (Nasdaq:JASO) Upgraded by Canaccord Genuity, Sunpower (Nasdaq:SPWRA) and Suntech (NYSE:STP) Downgraded
The solar industry has been all over the place recently, and solar companies like JA Solar (Nasdaq:JASO), which was upgraded by Canaccord Genuity, and Sunpower (Nasdaq:SPWRA) and Suntech Power (NYSE:STP), which were downgraded, and been all over the place as well.
It'll be surprising if the unpredictable solar energy stocks keep the upward momentum, as there isn't a lot of reasons for them to do so, as while there is some increasing demand in some countries, the margins remain under pressure.
Here's what Canaccord said about select solar stocks:
"Specifically, we are upgrading JA Solar to a BUY rating from Hold, recommending that investors overweight this name relative to other solar stocks."
"Concurrently, we are downgrading both Suntech to a SELL rating from Hold and SunPower to a SELL rating from a Hold, recommending that investors underweight these names as we believe these companies will underperform the general solar universe."
"We maintain our Buy ratings on Canadian Solar (NASDAQ:CSIQ) Solarfun (NASDAQ:SOLF) and Hold rating on First Solar (NASDAQ:FSLR)."
The price target on JA Solar was raised from $7 to $11, on Sunpower it was slashed from $30 to $11, and on STP from $9 to $7.
It'll be surprising if the unpredictable solar energy stocks keep the upward momentum, as there isn't a lot of reasons for them to do so, as while there is some increasing demand in some countries, the margins remain under pressure.
Here's what Canaccord said about select solar stocks:
"Specifically, we are upgrading JA Solar to a BUY rating from Hold, recommending that investors overweight this name relative to other solar stocks."
"Concurrently, we are downgrading both Suntech to a SELL rating from Hold and SunPower to a SELL rating from a Hold, recommending that investors underweight these names as we believe these companies will underperform the general solar universe."
"We maintain our Buy ratings on Canadian Solar (NASDAQ:CSIQ) Solarfun (NASDAQ:SOLF) and Hold rating on First Solar (NASDAQ:FSLR)."
The price target on JA Solar was raised from $7 to $11, on Sunpower it was slashed from $30 to $11, and on STP from $9 to $7.
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