For 25 years, Steven Halpern, editor of TheStockAdvisors.com, has surveyed the leading financial newsletter advisors asking for their favorite stocks for the coming year. This article is one of 100+ ideas in the Best Stocks for 2008 report.
"First Solar (NASDAQ: FSLR) is my favorite speculative idea for 2008," says relative strength technician Dan Sullivan, editor of The Chartist.
"First Solar is the fastest growing manufacturer of solar modules in the world. And that's just the beginning. The company manufactures solar modules with an advanced thin film semiconductor process that significantly lowers solar electricity costs.
"Offering clean renewable electricity at affordable prices enables First Solar to provide an economic alternative to peak conventional electricity and fossil fuels.
"The solar module maker recorded a significant increase in revenue, easily beating Wall Street estimates. The company earned $46 million, or 58 cents per share, compared with $4.3 million, or 7 cents per share in the year-ago period.
"Revenue rose to $159 million, up from $40.8 million a year ago. The third quarter's results are based on a total of approximately 79.1 million shares outstanding, while 2006 quarter's results are based on approximately 58 million shares outstanding.
"The stock is owned in the Chartist Actual Cash Account and is currently in the top tier of our Relative Strength rating. The stock recently broke out into record high territory. In just over a year the shares have risen from $25 to over $250.
"Despite this tremendous run up this stock continues to have the credentials to be a super star stock for 2008. For new purchases we recommend a 15% stop below your entry point."
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