First Solar (FSLR) Price Target Raised to $75.00 at Deutsche Bank

First Solar (NASDAQ:FSLR) had its price target hoisted by research analysts at Deutsche Bank to $75.00 in a research report issued on Wednesday. The firm presently has a “buy” rating on the solar cell manufacturer’s stock. Deutsche Bank’s price objective would suggest a potential upside of 22.53% from the company’s previous close.

FSLR has been the topic of a number of other reports. Goldman Sachs Group reiterated a “neutral” rating and issued a $65.00 price objective (up from $50.00) on shares of First Solar in a report on Thursday, November 30th. Axiom Securities reiterated a “buy” rating on shares of First Solar in a report on Thursday, August 10th. Vetr upgraded First Solar from a “buy” rating to a “strong-buy” rating and set a $53.04 price objective on the stock in a report on Wednesday, October 11th. Needham & Company LLC upgraded First Solar from a “hold” rating to a “buy” rating and set a $60.00 price objective on the stock in a report on Friday, October 27th. Finally, Zacks Investment Research upgraded First Solar from a “hold” rating to a “buy” rating and set a $51.00 price objective on the stock in a report on Monday, October 2nd. Twelve investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $55.79.

Shares of First Solar (NASDAQ FSLR) traded up $3.94 during trading on Wednesday, hitting $61.21. The stock had a trading volume of 5,429,100 shares, compared to its average volume of 2,772,069. The firm has a market cap of $5,980.88, a PE ratio of 14.04 and a beta of 2.03. First Solar has a fifty-two week low of $25.56 and a fifty-two week high of $63.10. The company has a current ratio of 6.85, a quick ratio of 6.47 and a debt-to-equity ratio of 0.06.

First Solar (NASDAQ:FSLR) last issued its earnings results on Thursday, October 26th. The solar cell manufacturer reported $1.95 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.84 by $1.11. The business had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $859.22 million. First Solar had a positive return on equity of 8.07% and a negative net margin of 14.70%. During the same period in the previous year, the firm posted $1.22 EPS. The business’s revenue for the quarter was up 59.5% compared to the same quarter last year. research analysts forecast that First Solar will post 2.47 earnings per share for the current fiscal year.

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of First Solar by 3.9% during the second quarter. Vanguard Group Inc. now owns 6,545,727 shares of the solar cell manufacturer’s stock worth $261,043,000 after acquiring an additional 243,787 shares during the period. Schroder Investment Management Group increased its position in shares of First Solar by 12,600.7% during the second quarter. Schroder Investment Management Group now owns 1,679,286 shares of the solar cell manufacturer’s stock worth $67,306,000 after acquiring an additional 1,666,064 shares during the period. Bank of New York Mellon Corp increased its position in shares of First Solar by 6.0% during the third quarter. Bank of New York Mellon Corp now owns 1,456,546 shares of the solar cell manufacturer’s stock worth $66,825,000 after acquiring an additional 82,634 shares during the period. Key Square Capital Management LLC purchased a new stake in shares of First Solar during the third quarter worth $23,621,000. Finally, Ecofin Ltd. purchased a new stake in shares of First Solar during the second quarter worth $19,485,000. 51.21% of the stock is currently owned by institutional investors and hedge funds.

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About First Solar

First Solar, Inc is a provider of photovoltaic (PV) solar energy solutions. The Company designs, manufactures and sells PV solar modules with a thin-film semiconductor technology. The Company also develops, designs, constructs and sells PV solar power systems that primarily use the modules it manufactures.

Analyst Recommendations for First Solar (NASDAQ:FSLR)

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