Friday, July 25, 2008

First Solar: "Encourage profit taking/shorting here" - Friedman Billings (FSLR)

From Notable Calls:
FBR is out with a negative call on First Solar (NASDAQ:FSLR) and SunPower (NASDAQ:SPWR) after Solar Electric Power Association (SEPA), an industry association bridging the solar and utility industries, announced yesterday theresults of its survey of utility companies (titled:"Utility Solar Electricity Market Survey"). Summary: (a) projected PV installations of ~2 GW, on aggregate, over the next three to five years in solar portfolio, versus >3 GW for CSPs across the U.S. utilities; (b) possible paradigm shift, with utilities owning the plants and PV suppliers becoming only turn-key provider (if ITC is given to utilities instead of third parties)...MORE

Notable Calls says we could see up to a five percent decline today.