Earnings momentum peaking. While there has been a widespread concern on FSLR’s margins, FSLR’s stock in the meantime has benefited from its consistent track record of beat and raise quarters in the past. While CSFB expected upside to the quarter, FSLR's reported Q2 results were well above consensus. However, they think Q3 will be the last good quarter for a while for similar upside surprises; and they expect a period where estimate resets are asymmetrically skewed to the downside as we move into 2010. Firm expects the stock to look ahead of this peaking earnings momentum and pull back to lower levels....
...Notablecalls: This is a powerful downgrade from CSFB Solar Energy team. I'm actually surprised they didn't downgrade the stock to Underperform (the language is that strong). The stock will have 8-10% downside in store today....MORE
Friday, July 31, 2009
First Solar: Downgraded at Credit Suisse (FSLR)
In pre-market trade the stock is down $18.74 at $173.55 (10.80%). From Notable Calls: