First Solar's Higher Costs a Drag but Good Sign for Series 6 Production
We are raising our First Solar fair value estimate to $55 per share from $50 after incorporating an acceleration in sales bookings above our expectations and management's new plans to build a large module factory in Ohio. We are reaffirming our no-moat and stable moat trend ratings.First-quarter results put First Solar on track to meet our 2018 estimates and management's guidance. First Solar reported $567 million of net sales and $0.78 per share of net income. Management reaffirmed its revenue...
First Solar is a provider of photovoltaic (PV) solar energy solutions. The company designs, manufactures and sells PV solar modules with a thin film semiconductor technology, and also develops and sells PV solar power systems that mainly use the modules it manufactures. The company also provides operations and maintenance (O&M) services to system owners. The company's modules segment involves the design, manufacture and sale of cadmium telluride solar modules, which convert sunlight into electricity. The company's second segment is its systems segment, through which it provides power plant solutions, which include project development, engineering, procurement, and construction services and O&M services.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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