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UPDATE: Bank of America Maintains on First Solar

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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.

Latest Ratings for FSLR

DateFirmActionFromTo
May 2017JMP SecuritiesUpgradesMarket PerformMarket Outperform
May 2017BairdDowngradesOutperformNeutral
May 2017Bank of AmericaUpgradesUnderperformNeutral

View More Analyst Ratings for FSLR
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Posted-In: Bank of America Krish SankarAnalyst Color Analyst Ratings

 

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