In a report released yesterday, Colin Rusch from Oppenheimer maintained a Hold rating on First Solar (FSLR). The company’s shares closed yesterday at $51.95.
Rusch said:
“As we expected, FSLR indicated 1Q19 financials would be below consensus while maintaining guidance for 2019. While we we believe FSLR is executing well on its transition to Series 6, we are cautious on high expectations for FSLR results. We note 2020E EBITDA consensus is $665M and 2021E is at $786M. We highlight the five- year average EV/EBITDA multiple for FSLR 6.32x implies ~$70 valuation. We believe annual EBITDA estimates are ~$100M too high even if margins are moving in a positive direction. We remain on the sidelines given concerns for potential estimate revision, especially given the solar industry’s history of volatility. That said, we see significant multi-year operating leverage for the platform if FSLR continues to execute well.”
According to TipRanks.com, Rusch is a 5-star analyst with an average return of 11.6% and a 50.9% success rate. Rusch covers the Industrial Goods sector, focusing on stocks such as Capstone Turbine Corp, Amer Superconductor, and Canadian Solar Inc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for First Solar with a $66.33 average price target.
See today’s analyst top recommended stocks >>
The company has a one-year high of $81.72 and a one-year low of $36.51. Currently, First Solar has an average volume of 1.56M.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
First Solar, Inc. engages in designing, manufacturing, marketing, and distribution of photovoltaic solar power systems and solar modules. It operates through the Components and Systems segments. The Components segment involves in the design, manufacture, and sale of cadmium telluride solar modules, which convert sunlight into electricity.
