First Solar Rating Reiterated by Bank of America (FSLR)
First Solar (NASDAQ:FSLR)‘s stock had its “underperform” rating reaffirmed by equities researchers at Bank of America in a research report issued on Tuesday. They currently have a $55.00 price target on the stock, up from their previous price target of $50.00. Bank of America’s price target indicates a potential downside of 22.71% from the stock’s previous close.
Shares of First Solar (NASDAQ:FSLR) opened at 71.16 on Tuesday. First Solar has a 52-week low of $35.59 and a 52-week high of $74.84. The stock’s 50-day moving average is $65.92 and its 200-day moving average is $64.32. The company has a market cap of $7.130 billion and a price-to-earnings ratio of 18.96.
First Solar (NASDAQ:FSLR) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $0.04 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.37 by $0.33. The company had revenue of $544.40 million for the quarter, compared to the consensus estimate of $795.88 million. During the same quarter in the prior year, the company posted $0.39 earnings per share. The company’s quarterly revenue was up 4.7% on a year-over-year basis. Analysts expect that First Solar will post $2.60 EPS for the current fiscal year.
A number of other firms have also recently commented on FSLR. Analysts at RBC Capital raised their price target on shares of First Solar from $48.00 to $56.00 in a research note on Wednesday, August 6th. Separately, analysts at Needham & Company LLC upgraded shares of First Solar from a “hold” rating to a “buy” rating in a research note on Wednesday, August 6th. They now have a $75.00 price target on the stock. Finally, analysts at JPMorgan Chase & Co. raised their price target on shares of First Solar from $75.00 to $76.00 in a research note on Tuesday, July 15th. They now have an “overweight” rating on the stock. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company. First Solar has an average rating of “Hold” and a consensus target price of $69.21.
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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