Clean energy exchange traded funds (ETFs) may see sunny days as First Solar Inc. (FSLR) got a thumbs up for revenue increases from analysts.
Analysts raised their estimates for the solar panel maker, saying the company will continue to post revenue growth from lowered costs and manufacturing improvements, reports the Associated Press.
PowerShares WilderHill Clean Energy (PBW) holds 3.32% of First Solar. The expected revenue growths could set the ETF up for an increase. It could use the lift because it’s down 21.7% year-to-date.
First Solar’s stronger-than-expected fourth quarter surprised Wall Street, giving 2008 revenue forecasts a jump as well. Expectations are for sales to double this year. In the last year, First Solar’s stock has risen 345%.
The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.