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First Solar Management's 2016 Estimates Conservative, Citi Says

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Shares of First Solar (NASDAQ: FSLR) are recovering a portion of Thursday's losses in Friday's pre-market trading, up 1.5 percent, after Citigroup raised the price target from $63 to $87 and reiterated a Buy rating.

Analyst Shahriar Pourreza feels management's 2016 view could be conservative.

Pourreza expects accelerated growth in 2016, which leaves “considerable upside” for 2016.

The analyst's earnings per share estimates are as follows:

  • 2014 -- $2.60 versus $2.54 Street consensus. Management forecasting $2.20-$2.60.
  • 2015 -- $5.78 versus $4.76 Street consensus. Management forecasting $4.50-$6.00.
  • 2016 -- $5.73 versus $3.91 Street consensus. Management forecasting $3.50-$5.00.

    Shares of First Solar are up 27 percent year-to-date. The analyst $87 price target represents 25 percent upside from current levels.

Latest Ratings for FSLR

DateFirmActionFromTo
Feb 2015Standpoint ResearchDowngradesBuyHold
Feb 2015Northland SecuritiesUpgradesUnderperformMarket Perform
Feb 2015Deutsche BankUpgradesHoldBuy

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Posted-In: Citigroup Shahriar PourrezaAnalyst Color Analyst Ratings Movers

 

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