First Solar, Inc. (NASDAQ:FSLR) announced that Georges Antoun, President – U.S., has been appointed Chief Commercial Officer, effective July 1, 2016.
Antoun will have comprehensive leadership responsibility for Global Project and Business Development, with a primary focus on increased sales and sustainable growth in emerging markets. Reporting to Antoun will be First Solar global project development, business development and strategic marketing teams.
“Georges has a deep and broad grasp of every aspect of our operations,” saidFirst Solar Chief Financial Officer Mark Widmar, who will become Chief Executive Officer on July 1. “I am confident that he can lead a fully integrated international business development organization that will deliver on our strategic objectives while focusing on deeper customer intimacy.”
As President – U.S., Antoun oversaw project and business development for the United States. Previously, he served as the company’s Chief Operations Officer, joining First Solar in June 2012 after working in the international IT and Telecommunications industries.
“I am honored to take on this expanded role as we enter a new phase of growth and development,” said Antoun. “I look forward to working with the management team and global associates to execute on our strategies and capitalize on the exciting opportunities before us.”
As part of this transition, Joe Kishkill, First Solar’s President – International, will leave the company to pursue other interests.
“Joe played an important role in positioning First Solar as a global player,” said Widmar. “We thank Joe for his contributions, and wish him all the best in his next endeavors.” (Original Source)
Shares of First Solar closed today at $50.60, down $1.20 -2.32%. FSLR has a 1-year high of $74.29 and a 1-year low of $40.25. The stock’s 50-day moving average is $61.88 and its 200-day moving average is $62.35.
On the ratings front, FSLR has been the subject of a number of recent research reports. In a report issued on May 2, UBS analyst Julien Dumoulin Smith reiterated a Hold rating on FSLR, with a price target of $59, which represents a potential upside of 13.9% from where the stock is currently trading. Separately, on April 29, Barclays’ Jon Windham reiterated a Buy rating on the stock and has a price target of $68.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Julien Dumoulin Smith and Jon Windham have a total average return of 5.8% and -8.8% respectively. Smith has a success rate of 60.0% and is ranked #651 out of 3828 analysts, while Windham has a success rate of 38.1% and is ranked #3355.
Overall, 8 research analysts have assigned a Hold rating and 7 research analysts have given a Buy rating to the stock. When considering if perhaps the stock is under or overvalued, the average price target is $69.75 which is 34.7% above where the stock opened today.
First Solar, Inc. operates as a solar energy solutions company. It engages in the designing, manufacturing, marketing and distribution of photovoltaic solar power systems and solar modules with an advanced thin-film semiconductor technology. The company operates in two business segments: Components and Systems.