Deutsche Bank Maintain Hold Rating at First Solar
Monday, October 03, 2021 4:10 PM

Analysts at Deutsche Bank retained Hold rating on shares of First Solar Inc. (Nasdaq: FSLR). They cut the stock’s price target to $70 from $90.

DB analysts state that First Solar’s near term pricing pressure and downside risk to consensus 2012 estimates could keep shares under pressure in the near term. They add that the company has secured two loan guarantees. The US Department of Energy approved $4.75 billion in loan guarantees for four solar energy projects on the final day of a 2005 program funded by the stimulus act.  They state that revenue of Desert Sunlight is not expected until 2015. Analysts state that First Solar appears to be in good shape in terms of the intangible assets ratio and tangible book value. They add that the company has an intangible assets ratio of 9 percent. In September 2011, First Solar entered into an agreement with one of India’s leading independent power producers, Reliance Power, for the supply of 100 megawatt solar modules.


On a year-to-date basis, First Solar has a share performance of -46.03 percent, and as compared to Standard & Poor’s 500, it has an YTD share performance of -40.27 percent.


First Solar is a manufacturer of thin film photovoltaic (PV) modules, or solar panels and a provider to PV power plants of supporting services that include finance, construction, maintenance and end-of-life panel recycling. It has a market capitalization of $6.06 billion with a P/E ratio of 11.970. It has more than 86 million outstanding shares.


Shares of First Solar slipped 4.51 percent or $2.85 to trade at $60.36.