Gabelli & Co Reiterates Bullish Stance on First Solar, Inc. (Public, NASDAQ:FSLR)

After a downgrade, any stading buy rating is very bullish on FSLR stock, going up today 9%

January 15, 2009 11:18 AM EST
Gabelli & Co is reiterating their Buy rating on First Solar (Nasdaq: FSLR) after strong results from 5N+ yesterday, which provides them increased confidence that FSLR is faring better than most solar plays.

The firm also said, "management noted that other CdTe based solar vendors were struggling given the difficult environment for financing...in sharp contrast to the rest of the solar sector."

The firm remains confident in their estimates for FSLR for 4Q '08, $435mm revenues and EPS of $1.37, as well as for FY '09, EPS of $8.00, and continue to recommend the purchase of shares at current level.

First Solar, Inc. (Public, NASDAQ:FSLR) Chart continues Bullish for the short term, with a decent uptrend in the last 2 months:

It's probably a good moment to go long for a short term trade.

Labels: First Solar Inc, FSLR, News, solarstocks

posted by Ertai at 2:54 PM