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First Solar YieldCo Is 'No Guarantee,' Expert Says

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Dr. Thomas Carr, founder of DrStoxx.com, told Benzinga that investors are "celebrating" First Solar, Inc. (NASDAQ: FSLR) and SunPower Corporation's (NASDAQ: SPWR) YieldCo announcement despite the fact that there is no guarantee a spinoff will happen.

"There is a lot of red tape to work through first and, in fact, First Solar's CEO was out just last November saying there would be no YieldCo merger after previously saying there would be," Carr said. "Regardless, investor reaction to the news now means that First Solar is really going to have to beat big when it announces earnings on Tuesday."

Carr added that expectations for a beat are "high" given the recent execution of three utility-scale projects and the expansion of the company's global footprint.

Bottom line, anything short of a big beat could generate defensive selling and profit taking.

Shares of First Solar were up 15 percent at $57.36.

Shares of SunPower were up 16 percent at $32.35.

Latest Ratings for FSLR

DateFirmActionFromTo
Apr 2021BarclaysUpgradesUnderweightEqual-Weight
Apr 2021B of A SecuritiesUpgradesUnderperformNeutral
Apr 2021CitigroupUpgradesNeutralBuy

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