UPDATE: Bank of America Maintains on First Solar
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.
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