NEW YORK (
TheStreet) -- Shares of
(FSLR) are higher after a strong analyst meeting that is going "incredibly well" according to
TheStreet's Jim Cramer, co-manager of the
Action Alerts PLUS portfolio.
First Solar missed its most recent earnings expectations, but Cramer said that "it's never about the quarter, it's about the guidance." After providing strong guidance for 2014 to 2016, investors are clearly happy.
SolarCity (SCTY), on the other hand, is based a little bit more on hope, according to Cramer. He said the company is trying to reinvent the electric grid and how it works with solar power.
Maybe his opinion will change, he admitted, but Cramer said that for now he would rather be a buyer of First Solar instead of SolarCity.
He concluded that First Solar has "real momentum" right now, and he is looking for the stock to push through $62 and break out higher from there.
-- Written by Bret Kenwell in Petoskey, Mich.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
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
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts