Bank Of America Reports First Solar Earnings Estimates

According to Bank of America, First Solar

2011 earning estimates remain at $9.65. Bank of America said that excess inventory in Europe may take until July/August to be worked off, causing a difficult 2Q for the solar industry. “First Solar should be in decent shape, however, given that over half its European business is with developers. We expect good news on the project side in the second half with Agua Caliente revenue being recognized, 2-3 more projects being sold, and PPAs being signed for the 2014-16 period.” First Solar closed on Friday at $118.66.