First Solar (FSLR) Given “Outperform” Rating at Cowen

Cowen reiterated their outperform rating on shares of First Solar (NASDAQ:FSLR) in a research report sent to investors on Wednesday morning. Cowen currently has a $77.00 price target on the solar cell manufacturer’s stock, up from their prior price target of $60.00.

FSLR has been the topic of a number of other reports. Goldman Sachs Group restated a neutral rating and issued a $65.00 price target (up from $50.00) on shares of First Solar in a research note on Thursday, November 30th. Axiom Securities restated a buy rating on shares of First Solar in a research note on Thursday, August 10th. Vetr upgraded First Solar from a buy rating to a strong-buy rating and set a $53.04 price target on the stock in a research note on Wednesday, October 11th. Deutsche Bank upgraded First Solar from a hold rating to a buy rating and lifted their price target for the company from $50.00 to $65.00 in a research note on Friday, September 15th. Finally, Needham & Company LLC upgraded First Solar from a hold rating to a buy rating and set a $60.00 price target on the stock in a research note on Friday, October 27th. Eleven equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. First Solar currently has a consensus rating of Buy and a consensus target price of $57.51.

Shares of First Solar (FSLR) traded up $2.03 during mid-day trading on Wednesday, hitting $63.24. The company’s stock had a trading volume of 4,666,600 shares, compared to its average volume of 2,780,130. First Solar has a one year low of $25.56 and a one year high of $65.43. The stock has a market cap of $6,392.34, a P/E ratio of 15.00 and a beta of 2.03. The company has a quick ratio of 6.47, a current ratio of 6.85 and a debt-to-equity ratio of 0.06.

First Solar (NASDAQ:FSLR) last announced its earnings results on Thursday, October 26th. The solar cell manufacturer reported $1.95 earnings per share for the quarter, beating the consensus estimate of $0.84 by $1.11. First Solar had a positive return on equity of 8.07% and a negative net margin of 14.70%. The company had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $859.22 million. During the same period last year, the business posted $1.22 EPS. The company’s revenue was up 59.5% on a year-over-year basis. research analysts expect that First Solar will post 2.47 EPS for the current year.

Hedge funds have recently modified their holdings of the stock. Suffolk Capital Management LLC acquired a new position in First Solar during the third quarter worth $1,576,000. Scott & Selber Inc. acquired a new position in shares of First Solar in the third quarter worth $1,472,000. Commerzbank Aktiengesellschaft FI raised its holdings in shares of First Solar by 72.5% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 190,386 shares of the solar cell manufacturer’s stock worth $7,593,000 after acquiring an additional 79,987 shares during the last quarter. Gotham Asset Management LLC acquired a new position in shares of First Solar in the second quarter worth $14,135,000. Finally, Winfield Associates Inc. acquired a new position in shares of First Solar in the third quarter worth $560,000. 51.21% of the stock is owned by hedge funds and other institutional investors.

TRADEMARK VIOLATION NOTICE: This piece was originally published by Chaffey Breeze and is the sole property of of Chaffey Breeze. If you are accessing this piece on another publication, it was illegally stolen and republished in violation of U.S. & international copyright & trademark legislation. The correct version of this piece can be viewed at https://www.chaffeybreeze.com/2017/12/07/first-solar-fslr-given-outperform-rating-at-cowen.html.

About First Solar

First Solar, Inc is a provider of photovoltaic (PV) solar energy solutions. The Company designs, manufactures and sells PV solar modules with a thin-film semiconductor technology. The Company also develops, designs, constructs and sells PV solar power systems that primarily use the modules it manufactures.

Analyst Recommendations for First Solar (NASDAQ:FSLR)

Receive News & Ratings for First Solar Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Solar Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply