Monday, January 24, 2011

UPDATED: Aha! "Goldman Sachs added First Solar to its Conviction Buy List" (FSLR)

UPDATE: "And That's a New 52-Week High for First Solar (FSLR)".
Original post:
In early pre-market action the stock is up $3.67 at $151.08. Our target for this go-round was the 52-week high of $153.30.
As we said in last Tuesday's "First Solar "Holy Uptick Batman" (FSLR)":
...That is some serious "pick off the offer" buying. and I have no idea why.
Volume is running about 80% above average and someone is buying every offer in sight.

I suppose we'll find out soon enough why someone is willing to "pay any price..." for FSLR.

I'll be back tomorrow with the weekly chart, it is instructive.
From Street Insider:
Goldman Sachs added First Solar (NASDAQ: FSLR) to its Conviction Buy List, with a $165 price target, representing 12% upside.

The firm said called FSLR the industry's low-cost supplier, with the most credible pipeline of utility-scale projects, providing the best risk/reward in the sector.

They believe their $9.40 EPS estimates, which is 5% above the consensus, is still conservative....MORE
The first corollary of the Grassy Knoll Theory of Investing:
"There is a They, and They know."
Now we do too.