An analyst at the Goldman Sachs investment bank in New York said that investors should buy First Solar (FSLR) stock and set a price target for $150 per share, reported Barrons. Shares of FSLR jumped 2.5 percent today to $122.20 per share.
First Solar is unique in its use of thin film semiconductors based on cadmium telluride (CdTe) to produce durable, economical but less-efficient solar modules. The company has a long backlog of orders and 1,228 megawatts of capacity, which it plans to expand by another 1,000 megawatts over the next two to three years.
Part of the reason for their competitive efficiency is the steady reduction of the cost of producing these CdTe modules, which have become as cheap as 80 cents per watt. By comparison, the average price per watt of conventional silicon solar panels is around $3.00.
Mark Wienkes, the Goldman analyst, said that "we see benefits from large-scale projects ultimately overwhelming near-term challenges and accelerating the transition from subsidized markets towards parity."
Goldman only recommended one other solar stock "buy," JA Solar Holdings of China, a major solar manufacturer with heavy subsidies from the Chinese government.
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An analyst at the Goldman Sachs investment bank in New York said that investors should buy First Solar (FSLR) stock and set a price target for $150 per share, reported Barrons. Shares of FSLR jumped 2.5 percent today to $122.20 per share.
