ARGUS Upgrades First Solar (FSLR)

ARGUS upgrades First Solar Inc. (Nasdaq: FSLR) from Hold to Buy. Price target $292.

ARGUS analyst says, "FSLR has benefited from very positive industry trends as well as from near-flawless execution of management's business plan. While the shares are likely to remain very volatile, a pullback of more than 10% since our downgrade to HOLD at the beginning of April has improved the valuation proposition. More importantly, legislative trends for solar subsidies have been less negative than originally feared. In addition, the company has yet to garner the benefits of its recent expansion of manufacturing operations to Malaysia. We anticipate only a modest uptick in sales and margins."

First Solar, Inc. designs and manufactures solar modules using a thin film semiconductor technology.

Labels: First Solar, FSLR

posted by Ertai at 9:55 AM