From Benzinga, October 10:
What's Going On With First Solar Stock?
Zinger Key Points
- Jefferies analyst Dushyant Ailani maintains First Solar with a Buy and lowers the price target from $271 to $266 on Thursday.
- B of A Securities analyst Julien Dumoulin-Smith maintains First Solar with a Buy and lowers the price target from $343 to $321 on Tuesday.
First Solar, Inc. shares are trading lower Thursday after Jefferies cut its price target on the stock from $271 to $266.
The Details:
First Solar shares are trading lower after Jefferies analyst Dushyant Ailani maintained a buy rating on the stock but lowered the price target from $271 to $266. This marks the second price target decrease this week after B of A Securities lowered its price target from $343 to $321 on Tuesday....
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Two other things. The story mentions the possibility of Donald Trump winning the Presidency and the negative implications that might have on alt-energy stocks.
Additionally but unmentioned, because FSLR specializes in utility-scale solar arrays, financing costs are an important part of a project's overall cost. The recent jobs report and today's CPI release do not point to another 50 bps cut in the Fed's target rate.
The stock closed the regular session down $21.01(-9.29%) at $205.04 and was recently down another penny in late after-hours trade.
