Baird Analyst Reiterates Outperform Rating on First Solar, Inc. (FSLR)

By Ben Kriegsman

Baird analyst, Ben Kallo, reiterates an Outperform rating and on First Solar, Inc. (NASDAQ:FSLR) with a $60 price target, following the company’s Q2 results.

FSLR reported earnings that exceeded revenue expectations. This beat was due to the sale of Kingbird and recognition of other project revenue.

Kallo explains, “Although market dynamics for 2017 remain uncertain, FSLR expects ~1 GW of systems for the year, and has lowered manufacturing costs in the upper-teen percentages over the past 12 months, which puts the company in a strong competitive position. Although 2017 may remain a near-term overhang on the stock, we continue to recommend shares for long-term investors.”

According to TipRanks, Ben Kallo is ranked #905 of 4,085 analysts. He maintains a success rate of 48% and realizes an average return of 3.8% per rating.