First Solar: S&P Intraday Gainer
The S&P was rising 14.66 points, or 1.08%, to 1,373.25.
Shares of First Solar rose 10.29% to $23.58.
The stock hit a 52-week low Tuesday of $20.03. The stock's 52-week high of $148.54 was set one year ago.Argus Research analyst Jim Kelleher said investors tend to buy shares of First Solar on dips and they are realizing the company has underlying value and that it has been dragged down by issues related to the sector. Kelleher said First Solar is "the only solar company with a strong pipeline of strong utility projects" and added that he anticipates First Solar will have stable revenue for the next few years. He has a buy rating on the stock and considers it his "most speculative buy." First Solar has an estimated price-to-earnings ratio for next year of 5.53 times; the average for renewable energy equipment companies is 8.95. For comparison, GT Advanced Technologies (GTAT) has a lower forward P/E of 4.64; SunPower's (SPWR) forward P/E is 10.72. Twenty-seven of the 39 analysts who cover First Solar rated it hold. Six analysts gave the stock a buy rating and another six rated it hold. TheStreet Ratings gives First Solar a C- grade and hold rating. The stock has declined 30.04% year to date. -- Written by Alexandra Zendrian
>To contact the writer of this article, click here: Alexandra Zendrian >To submit a news tip, send an email to: email@example.com. >To follow the writer on Twitter, go to Alexandra Zendrian.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV