Market Overview

UPDATE: Bank of America Maintains on First Solar

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On Thursday, Bank of America raised the price objective for First Solar (NASDAQ: FSLR) from $40 to $48 and maintained an Underperform rating.

Analyst Krish Sankar said the “most compelling aspect of [Wednesday's] presentation is the updated CdTe cell and module efficiency roadmap. Thin-film efficiencies in excess of multi-crystalline (potentially mono) modules by 2016 would be an impressive feat.”

First Solar's balance sheet remains “best in class, and enables management to pursue multiple strategies that potentially still include a YieldCo to maximize project value,” said Sankar.

Shares of First Solar are up another 1.9 percent to $70.68 after gaining 20 percent on Wednesday following upbeat guidance from management.

Latest Ratings for FSLR

DateFirmActionFromTo
Aug 2014Bank of AmericaReiteratesUnderperform
Aug 2014NeedhamUpgradesHoldBuy
Jul 2014JP MorganMaintainsOverweight

View More Analyst Ratings for FSLR
View the Latest Analyst Ratings

Posted-In: Bank of America Krish SankarAnalyst Color Analyst Ratings

 

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