Piper Jaffray Sees Massive Upside For First Solar (FSLR

Piper Jaffray has an Overweight rating and a $200 price target on First Solar FSLR. In a note sent to investors Piper Jaffray writes, "FSLR will present its 2011 guidance during an investor call on December 14. We expect revenue and EPS guidance above consensus of $3.6bn and $8.50. We estimate revenue of $3.9bn and $9.94. Management will likely provide an update on its 2011 project pipeline for 2011 of 500-700mw (PJC 620mw) given investor concern on its ability to execute on its project pipeline. We conduct a bottoms-up tally of our estimate of 620mw in project business for 2011. We also expect a focus on module pricing, and euro exposure. We believe an estimated 30% of 2011 shipments from its mostly North American-based project business will likely help reduce FSLR's euro exposure and insulate its blended ASP from market pressures." Shares of FSLR lost $3.07 yesterday to close at $130.98.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
date
ticker
name
Price Target
Upside/Downside
Recommendation
Firm
Posted In: Analyst ColorPrice TargetAnalyst RatingsPiper Jaffray
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!