Cowen’s Stone Reiterates Outperform on First Solar – Raises FY10 EPS Target
Source: http://feedproxy.google.com/~r/smallcappulse/feed/~3/FxcE-yobDzQ/Posted on Monday, March 2nd, 2009 | In Small & Micro Cap
Contributed by: Small Cap Pulse (http://www.smallcappulse.com/index.php/blog/detail/) -
March 2, 2009 ndash; Analyst Comments ndash; Cowen amp; Companyrsquo;s Robert Stone said the recent decline in First Solarrsquo;s (Nasdaq:FSLR) stock is creating a buying opportunity. He raised 2010 EPS and sees 50% upside against the market in 12 months and reiterated his OUTPERFORM rating.
Stonersquo;s Key Takeaways
middot;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp; 2010 expected revenue is unchanged at $2.65 billion, but higher expected GM increases target EPS to $8.80 from $8.63.
First Solar closed on Friday at $105.70, trading at 4.5x Stonersquo;s expected FY09 revenue and 15.8x his expected FY09 EPS; and it is trading at 3.1x expected FY10 revenue and 12x expected FY10 EPS.
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