Wednesday, April 16, 2008

First Solar Rallies on Southern California Edison Project and Price-Target Boost (FSLR)

From Schaeffers Research:
...Arguably one of the biggest players in the solar sector, First Solar (FSLR: View sentiment for FSLRsentiment, chart, options) is also gaining traction this morning, rallying more than 5% in early trading. Aside from soaring crude-oil prices near $114 per barrel, FSLR has received some positive brokerage firm comments today. According to, brokerage firm Broadpoint reported that FSLR has signed a deal for a 7.5 megawatt (MW) project with Southern California Edison. The deal includes an option to increase the size to 21MW. What's more, Broadpoint cited this project as tangible evidence of FSLR's entrance into the U.S. utility market. The brokerage firm also reiterated the stock with a "buy" rating and boosted its price target to $315 per share from $270 per share....MORE