Monday, February 23, 2009

First Solar: Earnings Tomorrow; Collins Stewart Cuts Ests (FSLR)

The stock was recently down $6.70 (5%).
From Tech Trader Daily:

First Solar (FSLR) shares are trading lower ahead of the company’s Q4 earnings report, which is due after the close tomorrow.

Collins Stewart analyst Daniel Ries this morning trimmed his forecasts for the company. For ‘09, he now sees revenue of $2.072 billion, down from $2.178 billion, with EPS of $7.62, down from $8.10. For Q1, he goes to $1.45, from $1.57, with shipments of 203 MW, down from 212 MW....

...Meanwhile, Caris Co.’s Ben Pang this morning repeated his Buy rating and $170 price target on the stock. He contends the company is likely to meet consensus estimates for Q4, and that the focus will be on 2009 revenue guidance. He thinks they will repeat their previous forecast of $2 billion to $2.1 billion. “This would provide some evidence that the solar space is stabilizing and revive hope that the stimulus package can re-accelerate growth....MORE