Maxim Group: First Solar's 4Q11 Preview

According to a research report published today, Maxim Group expects First Solar inc.

to report minimal surprises for its 4Q report. Maxim Group commented, “Risks to 4Q Low following Guidance Update on Dec. 14: With FSLR having lowered its 4Q revenue, operating income, and EPS guidance on Dec. 14, we expect little downside to 4Q results. While we forecast above consensus revenue of $813m and in-line gross margin of 37%, higher opex assumptions drive our EPS estimate of $1.54 essentially in line with the Street at $1.55 (excluding $0.85 in impairment/severance charges FSLR expects to book in 4Q).” Maxim Group maintains its Hold rating on First Solar, which closed yesterday at $42.38.