Solar Energy Is Likely to Get a Boost This Year

Not All Stocks Will Benefit

Solar energy should get a boost this year with a new administration focused on encouraging renewable energy. But not all solar firm stocks will benefit. Goldman Sachs cut First Solar (FSLR) to Sell with an $81 price target, seeing a 16% drop from Monday’s closing price after rising 61% over one year.

At the same time, Goldman raised Enphase Energy (ENPH) to Buy with a $232 price target, a 32% gain from Monday’s close after rising 513% over one year. It’s a tale of two growth stories, the bank said.

First Solar’s earnings and revenue have already peaked for this cycle, Goldman analyst Brian Lee said in a note on Monday night. Margins are expected to peak in the first half of this year. First Solar is expected to report year-end 2020 profit of $3.62 a share, but the estimate for year-end 2021 is $3.44, according to FactSet. Year-end revenue is estimated to be $2.8 billion, which is running slightly below the $3 billion forecast for year-end 2021.

Citi says bitcoin could become the currency of global trade

Change in tone for major financial institutions on bitcoin

Citi thinks bitcoin is at a “tipping point” and could one day “become the currency of choice for international trade” as companies like Tesla and PayPal warm to it and central banks explore issuing their own digital currencies.

“There are a host of risks and obstacles that stand in the way of Bitcoin progress,” the U.S. bank’s global perspectives and solutions team wrote in a note Monday. “Bitcoin’s future is thus still uncertain, but developments in the near term are likely to prove decisive as the currency balances at the tipping point of mainstream acceptance or a speculative implosion.”

It marks a change in tone for major financial institutions on bitcoin. Many banks have historically shunned the digital asset, arguing it has no intrinsic value and the hype surrounding it is akin to the tulip mania of the 17th century. But bitcoin’s wild ascent over the last few months has forced big Wall Street players to reevaluate the cryptocurrency. BNY Mellon, the oldest bank in the U.S., last month said it would offer custody services for bitcoin and other digital currencies. Meanwhile, JPMorgan has said it’s looking seriously as bitcoin.

Johnson & Johnson one-shot coronavirus vaccine approved in the U.S.

All people people 18 and over eligible

A Centers for Disease Control advisory panel on Sunday recommended Johnson & Johnson’s one-shot COVID-19 vaccine for people 18 and over, clearing the way for inoculations to begin as soon as this week. The recommendation comes one day after the Food and Drug Administration on Saturday authorized Johnson & Johnson’s COVID-19 vaccine for emergency use.

The vaccine is the third to be approved for use in the U.S., and the first that requires only one shot. The FDA’s Vaccines and Related Biological Products Advisory Committee (VRBPAC) voted unanimously to recommend authorizing the vaccine by Janssen, a division of Johnson & Johnson, on Friday. The committee provides expert advice to the FDA, but does not have final say on approval.

Twitter plans to double revenue by 2023

Twitter wants to reach 325million daily users

Just ahead of its 2021 virtual investor day on Thursday, Twitter this morning announced its three long-term goals focused on user base and revenue growth, and a faster pace of shipping new features across its platform. The company said it aims to “at least” double its total annual revenue from $3.7 billion in 2020 to $7.5 billion or more in 2023. It also expects to reach at least 315 million mDAUs — that’s Twitter’s self-invented metric for “monetizable” daily active users — by the fourth quarter of 2023.

That would represent a roughly 20% compound annual growth rate from Twitter’s base of 152 million mDAUs reported in the fourth quarter of 2019, the company noted in a new SEC filing.

Active user growth has been difficult for Twitter — the growth tends to be slow or even flat, at times. Per Twitter’s most recent earnings, mDAUs in the fourth quarter 2020 had reached 192 million instead of the 193.5 million expected, for instance. Investors are used to Twitter under-delivering on this metric — or even inventing its own user base metric to hide that its monthly user growth sometimes declines.

In any event, Twitter’s longer-term plans indicate it believes it will finally be able to deliver on user growth — perhaps aided by its investment in new features.

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