First Solar PT Raised to $55.00 at UBS AG (FSLR)
Equities research analysts at UBS AG upped their price target on shares of First Solar (NASDAQ:FSLR) from $48.00 to $55.00 in a research note issued to investors on Friday, Analyst Ratings.Net reports. The firm currently has a “neutral” rating on the stock. UBS AG’s target price points to a potential downside of 7.00% from the stock’s previous close.
A number of other analysts have also recently weighed in on FSLR. Analysts at Piper Jaffray Cos. raised their price target on shares of First Solar from $40.00 to $47.00 in a research note to investors on Friday. They now have a “neutral” rating on the stock. Separately, analysts at Citigroup Inc. raised their price target on shares of First Solar from $50.00 to $63.00 in a research note to investors on Friday. Finally, analysts at S&P Equity Research upgraded shares of First Solar to a “buy” rating in a research note to investors on Friday. Four equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and five have given a buy rating to the company. First Solar currently has a consensus rating of “Hold” and a consensus target price of $38.59.
First Solar (NASDAQ:FSLR) opened at 59.14 on Friday. First Solar has a 52-week low of $22.52 and a 52-week high of $59.80. The stock’s 50-day moving average is $45.04 and its 200-day moving average is $45.08. The company has a market cap of $5.775 billion and a P/E ratio of 13.33. First Solar also was the recipient of some unusual options trading on Thursday. Stock traders acquired 56,687 call options on the stock. This represents an increase of 204% compared to the average daily volume of 18,662 call options.
First Solar (NASDAQ:FSLR) last released its earnings data on Thursday, October 31st. The company reported $2.28 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.96 by $1.32. The company had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $988.63 million. During the same quarter in the prior year, the company posted $1.27 earnings per share. The company’s quarterly revenue was up 50.8% on a year-over-year basis. On average, analysts predict that First Solar will post $3.77 earnings per share for the current fiscal year.
First Solar, Inc manufactures and sells photovoltaic (NASDAQ:FSLR) solar modules with an advanced thin-film semiconductor technology, and it designs, constructs, and sells PV solar power systems.
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