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Stock Market & Financial Investment News

News Breaks
January 6, 2014
10:08 EDTFSLR, SCTYFirst Solar drops after Goldman cuts rating to Sell
Shares of First Solar (FSLR) are sinking after Goldman Sachs downgraded the stock to Sell in a note to investors earlier today. WHAT'S NEW: First Solar is poorly positioned, as the company "has virtually no exposure" to the rapidly growing rooftop solar market, Goldman Sachs analyst Brian Lee wrote. The company, which gets almost all of its revenue from utilities, is likely to see its earnings decline, the analyst predicted. He downgraded the stock to Sell from Buy and cut his price target on the shares to $45 from $61. WHAT'S NOTABLE: Lee is much more upbeat about the outlook for another name in the solar sector, Solar City (SCTY). He upgraded the stock to Conviction Buy from Neutral, citing the company's large exposure to the rooftop solar market. Lee, who expects the rooftop solar market to expand at a 45%-plus compound annual growth rate in the U.S. until 2016, raised his price target on Solar City to $80 from $65. PRICE ACTION: In early trading, First Solar sank $3.70, or 6.5%, to $53.05, while Solar City jumped $7, or 12%, to $66.25.
News For FSLR;SCTY From The Last 14 Days
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October 27, 2014
11:12 EDTSCTYVivint Solar advances after upbeat initiations of coverage
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October 24, 2014
06:38 EDTFSLREU sets emissions, renewable energy targets, NY Times says
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October 22, 2014
09:53 EDTSCTYCredit Suisse Events at Solar Power International
Credit Suisse holds meetings in Las Vegas in conjunction with the Solar Power International Conference include ENPH, TSL, CSIQ, SCTY, JASO, HSOL and STRI on October 22.
October 20, 2014
11:05 EDTSCTYSolarCity appoints Jonathan Beamer as Chief Marketing Officer
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07:19 EDTFSLR, SCTYJPMorgan says recent sell-off in solar space unjustified
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