Does The United Nilgiri Tea Estates Company Limited’s (NSE:UNITEDTEA) PE Ratio Signal A Buying Opportunity?
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First Solar, Inc. (NASDAQ: FSLR ) sahres are up more than 13 percent following a big first quarter earnings beat Tuesday. Senior analyst Gordon Johnson of Axiom Capital believes First Solar’s first quarter beat was due to a large project sale of the company’s Moapa project and not due to operational excellence. Related Link: First Solar Up 17% After Q1 Report, Raised Guidance, Johnson Upgrade First Solar did up its expected 2017 sales guidance by $50 million due to improved visibility on project sales and moved its expected gross margins higher by 150 basis points. Following the earnings beat, Johnson upgraded his rating on First Solar to Hold. “We believe the investment case on FSLR rests not with how much the company will earn in ’17, but rather where module prices will be in ’19 & what FSLR’s costs will be at that time,” Johnson said. Axiom Capital believes the fair value of the stock could approach $76 per share by 2019 assuming current module price increases. The stock traded recently at $34.21, up 12.6 percent on the day. Latest Ratings for FSLR May 2017 Bank of America Upgrades Underperform Neutral May 2017 Axiom Capital Upgrades Sell Hold May 2017 Credit Suisse Upgrades Underperform Neutral View More Analyst Ratings for FSLR View the Latest Analyst Ratings See more from Benzinga Frontier Communications Buy Rating No Longer Supportable, Says UBS Sprint CEO Could Get Huge Pay Bonus If Stock Remains Above ; Heres How Apple Adds Billion To Buyback Plan; iPhone, iPad Sales Down © 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. View comments
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