The direct correlation between oil prices and solar stocks is typically highest when oil is making short, abrupt moves and that is what the market is witnessing now. Nevertheless, don’t expect the link to last too long, said Angelo Zino, equity analyst at S&P Capital IQ. 'There is a high correlation as we sit here today, but over the next three to five years we do expect it to be less than what we have seen in recent months,' said Zino. Zino is bullish on First Solar (FSLR), which saw its shares jump 49 percent in 2015, primarily because it saw some of its tax credits extended. Zino said there is more to the stock than government largesse and the company will benefit from the industry’s shift from being focused on manufacturing to obtaining financing. 'First Solar has the best of breed balance sheet and that goes a long way,' said Zino. TheStreet's Gregg Greenberg has details from Wall Street.
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