Stone, along with Auriga's Mark Bachman are two of the better analysts covering the stock, with Bachman the slightly better timer.*
Cowen’s Rob Stone reiterated his OUTPERFORM rating this morning on First Solar (Nasdaq:FSLR) citing strong demand and a rebounding Euro, as well as a large North American utility scale pipeline. Stone sees 25% upside vs. the market in 12 months.
Be careful. The company reports on the 29th and the stock has run up from $102ish. For the last four quarters there has been a pattern of mystery/history, buy on rumor, sell on news. The big positive is that FSLR announce last quarter that current production capacity was sold out for the year. They are trying to get a couple more lines up and running.
Key Takeaways:· Sees 5-10% upside vs. St. Q210E EPS of $1.60 on revenue of $541 million,· Sees 2010 global PV demand of 11-12GW (+58%) and 14-15GW (+25%) in 2011...MORE
"Taking a Shine to First Solar " (FSLR)
"Auriga Picks Up Solar Coverage on Eight Stocks; Assigns Buys to TSL, YGE and SOLF"
"First Solar Preview: It's About the Outlook" (FSLR)
UPDATE III: "Cowen's Stone, Auriga's Bachman Comment on First Solar (FSLR)"
UPDATE II: "First Solar to add 4 new production lines: sold out through 2010" (FSLR)
UPDATE: "First Solar Posts Surprise Profit Growth On Strong Demand" (FSLR)
Following up on yesterday's "Auriga Sees First Solar Entry Point Coming" (FSLR)"'....