Friday, December 4, 2009

First Solar: Collins Stewart Turns Bullish (FSLR)

The stock is trading at $128.38 up 26 cents after hitting $133.44 in the jobs euphoria run-up.
Keep in mind our comment from yesterday's post "First Solar up $8.00, Approaching bottom of October Gap (FSLR)":
..The stock has traded through the 20 day moving average but the 50 day may be a "pause point"....
The 50-day exponential moving average is at $131.73, the simple is at $136.96.
From Tech Trader Daily:

First Solar (FSLR) share are higher this morning after Collins Stewart analyst Dan Ries upped his rating on the stock to buy from Hold, setting a price target of $160. FSLR closed yesterday at $128.12.

Ries writes that pricing pressures in the solar market have eased in recent months as demand has exceeded supply. He increased his forecast for ASPs for Q4 by two cents to $1.68/watt; for 2010 by 6 cents to $1.50/watt, and for 2011 by 8 cents to $1.25/watt....MORE