Street May Lower FSLR’s 2011 Estimates
Analysts at Hapoalim Securities maintain their "sell" rating on First Solar (NASDAQ: FSLR), while raising their estimates for the company. The target price for FSLR is set to $100.
According to Hapoalim Securities, “First Solar reported impressive 2Q10 results, handily exceeding our and Street estimates across the board. Moreover, management boosted its 2010 GM and EPS guidance due to its tactical decision to allocate more production to higher-margin module sales.”
“The trade-off, however, is a larger portion of lower-margin system sales in 2011, and we believe the Street may lower 2011 estimates in response,” the analysts mention.
Hapoalim Securities has raised its EPS estimate for 2010 from $6.66 to $7.05
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