A Profit Warning Could Be In First Solar's (FSLR) Future
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Price: $189.21 -1.35%
Rating Summary:
33 Buy, 21 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 0
Rating Summary:
33 Buy, 21 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 0
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Investors in First Solar (NASDAQ: FSLR) need to brace themselves for potential lower guidance, according to an analyst today at Jefferies.
Jefferies' analyst Jesse Pichel said they believe First Solar will lower its FY11 guidance range when it reports second quarter results on August 3rd. This said, the firm believes their may be more upside than downside in the stock as the company "executes on its robust project opportunity that insulates it from further panel pricing pressure in the merchant market."
Pichel also said stronger worldwide solar demand in the 2nd half is likely to stabilize c-SI prices and improve overall sentiment.
He lowered Q2 GAAP EPS from $0.94 to $0.90, which is below the consensus of $1.00. He also believes their is downside risk to the FY11 guidance range of $9.25-$9.75.
For more ratings news on First Solar click here and for the rating history of First Solar click here.
Shares of First Solar closed at $116.68 yesterday.
Jefferies' analyst Jesse Pichel said they believe First Solar will lower its FY11 guidance range when it reports second quarter results on August 3rd. This said, the firm believes their may be more upside than downside in the stock as the company "executes on its robust project opportunity that insulates it from further panel pricing pressure in the merchant market."
Pichel also said stronger worldwide solar demand in the 2nd half is likely to stabilize c-SI prices and improve overall sentiment.
He lowered Q2 GAAP EPS from $0.94 to $0.90, which is below the consensus of $1.00. He also believes their is downside risk to the FY11 guidance range of $9.25-$9.75.
For more ratings news on First Solar click here and for the rating history of First Solar click here.
Shares of First Solar closed at $116.68 yesterday.
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