First Solar, Nasdaq: FSLR Message Board

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Gold/Mining/Energy : First Solar, Nasdaq: FSLR

FSLR 261.98

-3.7%

9:56 AM EST

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To: Jim Oravetz who wrote (1)	1/1/2007 10:35:53 AM
From: Jim Oravetz	Read Replies (1) of 912

Barron's Jan 1, 2007, page M13 From ThinkEquity Partners Rated: Buy We are initiating coverage on thin-film solar modular producer First Solar with a Buy rating and a $35 price target because of strong demand growth for solar and the company's low cost product. First Solar is the first to produce a cadmium telluride thin-film product in high volume and holds a substantial technology and manufacturing lead over others in the thin-film space, in our opinion....We believe that solar products will continue to become more cost effective and that the solar industry will be one of the best performing sub-sectors in the alternative energy industry. While solar cells made with crystalline silicon wafers represent the lion's share of the solar market, we expect next generation thin-film to garner an increasing share of the overall market....The company has long term sales contracts worth approximately $2.3 billion, from 2006 to 2012... Our $35 price target is based on 40 times multiple on estimated 2008 diluted, non-GAAP earning per share of 88 cents.

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