Loading...
Loading...
Axiom Capital Research lowers its rating on First Solar
FSLR to Sell from Neutral as Germany shows signs of cooling off on its solar panel demand.
Axiom says, "After discussions with our German government contacts this morning, we learned that Germany's environment minister Norbert Roettgen (who has historically been an avid proponent for the solar industry) has proposed an overhaul to Germany's current solar PV incentive scheme, moving to
monthly vs. bi-annual cuts; given calls from the other side to enact hard caps, we see Mr. Roettgen's proposal as a best-case scenario; with future installations in Germany set to subside vs. prior years, we believe the forward multiple investors are willing to pay for solar stocks will moderate considerably."
FSLR closed at $38.70 on Thursday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
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!
Already a member?Sign in