Canaccord Adams Adds First Solar (FSLR) To Their BApril 8, 2008 1:30 PM EDT
Canaccord Adams is reiterating their Buy rating and $325 price target on First Solar (Nasdaq: FSLR)and adds the stock to their Best Ideas List, following a very strongquarter reported last night from First Solar's main feedstock suppler,5N Plus.
Commenting on 5N Plus's results the firm said, "We believe that much ofthe upside was driven in part by strong demand from First Solar as itcontinues to ramp its throughput on its existing production."
They also said, "We recommend investors add to positions in front ofFirst Solar's Q1 report on the back of 5N's results. With the politicalbackdrop improving for solar stocks in general, reduced near-termexecution risk and likely upside to our estimates, we are adding FirstSolar our Best Ideas list and reiterate our BUY rating and $325 pricetarget." [LJ]
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