North Coast Solar Stocks

October 29, 2009

First Solar falls 17%, but analysts calm

Filed under: FSLR — Tags: , , , , — Jason @ 11:04 am

NEW YORK (MarketWatch) — First Solar (FSLR) fell 17% to $126.60 on Thursday after the thin film solar panel maker weighed in with its earnings. Analysts at Jefferies said First Solar missed its revenue target due to $58 million in sales that will be recognized in the fourth quarter. Jefferies reiterated its hold rating and price target of $130 a share. “We believe that First Solar’s cost structure will remain the lowest in the industry even if silicon prices continue to decline,” analysts said.

Lazard Capital Markets reiterated its buy rating on the stock. “With shares under pressure on revenue deferral into fourth quarter and concern surrounding margin guidance, which simply reflects a higher mix of system business, we encourage accumulating positions on this weakness,” Lazard analysts said.

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