First Solar Is On Fire! Up 23% To $187

There’s no other way to put it, so we reiterate our headline: First Solar (FSLR) is on fire today.

The thin film solar leader turned in a great quarter that well exceeded analysts expectations last night. And to the victor now goes the spoils.

The stock is up 23%, at this moment, sitting at $187. It still can’t sniff its $300 summer time highs from a year ago, but since this is part of the next great bull run*, it’s just a few months before it returns to the highs. We assume. Sorta.

Eric Savitz at Barron’s wrote up 15 different analysts takes on the earnings news, which mostly pat First Solar on the back. The average price target from the bunch for FSLR: $183.

Here’s our favourite quotes:

Steve Milunovich, Bank of America/Merrill Lynch: “The solar plague missed First Solar’s house‚Ķeverything went the company’s way regarding profitability, but we have to conclude that its thin film approach is structurally advantaged in a way that even declining poly prices won’t change.”

Craig Irwin, Merriman Curhan Ford: “Time to move back the fences; First Solar is clearly in a different game than other solar manufacturers.”

Jonathan Dorsheimer, Canaccord Adams: “First Solar is one of the few long-term winners in the solar trend.”

*Says CNBC.

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