Tuesday, March 31, 2009

First Solar (NASDAQ:FSLR): JP Morgan out negative

JPM making very negative First Solar (NASDAQ:FSLR) call...."We are reducing our C09 EPS estimate to $4.43, well below current consensus of $6.58. We are also introducing a C10 ESP est of $4.77, which is significantly lower than current consensus est of $8.38."....they give a slew of reasons why street is underestimating the scope of problems FSLR is facing.....lowering target to $92....would use recent strength from China news to lower exposure....will get chance to buy cheaper-

Notablecalls: Ouch - JPM's the first of major firms to come out very neg on FSLR following the recent rally. Don't know how to play this one, though. It's so very prone to squeeze.

No comments: