5.65%GE 20.37 5.56%QQQQ 34.01 6.00%
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NEW YORK - A Lehman Brothers analyst expects greater returns on shares of First Solar Inc. due to lower costs and higher demand for its products.
| FSLR | 144.9 |  -18.29 |
In a client note Monday, analyst Vishal Shah raised his price target to $335 from $280, implying an expected return of 25 percent over Friday's close of $268.22.
Shah said greater output from Malaysia could add roughly $30 million to the company's second-quarter revenue. The company should benefit from a more favorable exchange rate and a resolution of solar incentives in Spain.
He also predicted a possible announcement of a U.S. contract ahead of the company's "strong" second-quarter results, scheduled for release in July.
A company representative could not immediately be reached for comment.
Shares of the Tempe, Ariz., company rose $6.74, or 2.5 percent, to $274.96 in premarket trading Monday.
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