Wednesday, September 12, 2007

Oh, Too Funny! Goldman Sachs Starts First Solar (FSLR) at a Buy

I'm assuming this is the same Goldman Sachs that owns 4.3 million shares of FSLR.

And the same Goldman Sachs which, according to the preliminary prospectus for the recently completed offering, was going to bail out of $ 95,000,000 worth, until the tough market caused the underwriters to shrink the offering from the proposed 9.65 mm. shares to 6.5 mm.?

Here's Forbes on the analyst coverage:

Shares of First Solar Inc. jumped in premarket trading Wednesday, after a Goldman Sachs analyst began coverage of the solar module maker with a "Buy" rating, saying the company is well-positioned to handle any upcoming supply glut.

Shares advanced $2.81, or 2.8 percent, to $105 in premarket trading, after ending the regular Tuesday session at $102.19.

In a note to clients, analyst Michael Molnar initiated coverage on First Solar with a six-month target price of $125....MORE


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