Deutsche Bank Reiterates FSLR with Hold, price target: $47
- Firm notes they have been highlighting some of the recent developments around section 201 trade case as well as stronger S6 execution as the key drivers for near term positive share price performance.
- Firm believes there are several factors that could continue to drive this near term positive momentum. Although initial feedback on S6 execution has been positive, they also acknowledge that some risks still remain and further evidence of successful S6 ramp would be required for sustained outperformance.
- Firm sees upside to Q2 estimates, primarily driven by better than expected component margins as well as revenue recognition of Switch Station project (not baked into guidance).