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First Solar upside is $110 if favorable Section 201 ruling, Deutsche Bank says

Published 09/20/2017, 02:19 PM
© Reuters.  First Solar upside is $110 if favorable Section 201 ruling, Deutsche Bank says
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  • Deutsche Bank (DE:DBKGn) foresees potential upside to $110 for First Solar (FSLR -2.9%) shares if the International Trade Commission's section 201 outcome on Friday finds injury.
  • The firm says its bull case includes tariffs and standard multi-module prices staying in the mid-40s along with c-Si module prices also remaining high; in which FSLR can extend an incremental 1GW S4 in 2018 and 2019, making respective shipments of 3 GW and 4.5 GW; however, the firm sees downside to ~$40 for FSLR shares if the ITC finds no injury.
  • FSLR is the lowest cost provider of solar panels in the U.S. and is viewed as the biggest beneficiary if the ITC rules that the industry was damaged by module dumping from Chinese solar companies.
  • Deutsche Bank maintains its Buy rating and $65 price target on FSLR.
  • ETFs: TAN, KWT
  • Now read: Energy Recap: Examining The Suniva/SolarWorld Trade Case


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