Bank of America highly positive on First Solar (NASDAQ:FSLR) ,raising price tgt to $75 from $72 and saying it has the best fundamental model in PV.
Firm expects First Solar to deliver substantial growth. They have confidence FSLR will deliver on announced capacity due to a lack of reliance on polysilicon. They project FSLR's capacity to increase to 275 MW in FY08 from 75 MW in FY06. FSLR should produce well above rated capacity as the result of high utilization rates (127% in Q4). What are your thoughts?