Shares of solar panel maker First Solar Inc. dipped below the $100 mark for the first time in more than a year Tuesday, a day before the company was to report third-quarter earnings.press release:
First Solar fell to $95.32 Tuesday before recovering a bit to close up $6.18, or 5.7 percent, at $114.09.
The stock, which hit a high of $317 on May 14, last traded below $100 in September 2007.
UBS analyst Stephen Chin said solar's residential segment is suffering from a global recession and tight credit markets, but he considers First Solar a preferred pick in the industry.
"We favor First Solar given our view that the company will sustain the industry's lowest cost/watt and continued manufacturing production outperformance," Chin wrote in a client note.
Lazard Capital Markets analyst Sanjay Shrestha rates First Solar a "Buy" with a price target of $265. He said the company should be able to leverage the solar industry's long-term growth by continuing to reduce costs and improve efficiency....MORE
TEMPE, Ariz., Oct 20, 2008 (BUSINESS WIRE) -- First Solar, Inc. (NASDAQ: FSLR) will report financial results for the third quarter ended September 27, 2008, after market close on Wednesday, October 29, 2008. The Company will hold its quarterly conference call to discuss these results at 4:30 p.m. EDT. Investors may access a live web cast of this conference call on the Investors section of the Company's web site at www.firstsolar.com.
An audio replay of the conference call will also be available approximately two hours after the conclusion of the call. The audio replay will remain available until Friday, October 31, 2008, at 11:59 p.m. EDT and can be accessed by dialing 888-266-2081 if you are calling from within the United States or 703-925-2533 if you are calling from outside the United States and entering access code 1288925. A replay of the web cast will be available on the Investor section on the Company's web site approximately two hours after the conclusion of the call and remain available for 90 calendar days....