Raymond James analyst Pavel Molchanov maintained a Sell rating on First Solar (FSLR) today. The company’s shares closed last Thursday at $81.40.
According to TipRanks.com, Molchanov is a 5-star analyst with an average return of 14.7% and a 60.2% success rate. Molchanov covers the Utilities sector, focusing on stocks such as Maxeon Solar Technologies, Nextera Energy Partners, and Exxon Mobil.
The word on The Street in general, suggests a Hold analyst consensus rating for First Solar with a $97.44 average price target, which is a 12.4% upside from current levels. In a report released today, Goldman Sachs also maintained a Sell rating on the stock with a $69.00 price target.
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Based on First Solar’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $928 million and net profit of $155 million. In comparison, last year the company earned revenue of $547 million and had a net profit of $30.62 million.
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First Solar, Inc. engages in designing, manufacturing, marketing, and distribution of photovoltaic solar power systems and solar modules. It operates through the Modules and Systems segments. The Modules segment involves in the design, manufacture, and sale of cadmium telluride solar modules, which convert sunlight into electricity. The Systems segment offers development, construction, operation, and maintenance of photovoltaic solar power systems. The company was founded by Michael J. Ahearn in 1999 and is headquartered in Tempe, AZ.
