Wunderlich Reiterates Sell On First Solar (FSLR)

Wunderlich Securities is reiterating its Sell rating and $90 price target on shares of First Solar FSLR. In a note sent to clients Wunderlich writes, "After the close yesterday, First Solar (FSLR) provided as-expected 2011 EPS guidance of between $8.75 and $9.50 (we expected guidance would be between $8 to $9); we are forecasting 2011 EPS of $6.50, up from $5.75 previously. The difference between our estimates and guidance is due to lower revenue and slightly lower gross profit margins. We believe meeting guidance will be a larger challenge than company is expecting. Shrinking of the German market and overcapacity in the industry is unlikely to impact 1Q11 but it is highly likely to become a large challenge after 1Q11 in our view. We reiterate our Sell rating and $90 target on FSLR shares." Shares of FSLR closed at $137.04 yesterday.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
date
ticker
name
Price Target
Upside/Downside
Recommendation
Firm
Posted In:
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!