Wednesday, February 23, 2011

UPDATED: Rat Bastard Piper Jaffray Reiterates 'Overweight' on First Solar (FSLR)

Update: "Corrected: First Solar Misses on Revs, Beats on Earnings, Guides Higher, Stock Down (FSLR)".
Original post:
So much for my master plan for world domination.
I really really wanted to see FSLR trade down some more heading into tomorrow's earnings release.
In early premarket action the stock is flat after teasing down in yesterday's after-hours session.
From Benzinga:
Piper Jaffray is reiterating its Overweight rating and $200 price target on shares of First Solar
In a note to investors, Piper Jaffray writes, "We see possible upside in 4Q10 results from pricing and/or lower costs.
However, our outlook for 1Q11 is more cautious as we estimate 86% of revenue will likely come from modules sales which are based on long term contracts with an embedded ASP decline in January to account for FIT cuts in Germany, as well as continuing rebates to some customers....MORE
First Solar: Take Profits On Thursday, Says Pacific Crest (FSLR)
After-hours the stock is down another 84 cents at $163.26. The lower the better says I.... 
Forbes Does Some Hatin' on First Solar, Sets up an Earnings Short Squeeze for Thursday (FSLR)
The stock looks to close down $4.12 or so at $164.10 which is over $11 lower than the 19 month high set last week.

This is the first time in ages that I can remember the stock trading down before an earnings release (Thursday) and sets up for a blow-out report and a reiteration or preferably a new price target, from Goldman. ...
Italy's Solar Orgy (FSLR; SPWRA; STP; TSL; YGE)