Deutsche Bank Downgrades First Solar (FSLR) to Hold; 2010 Strong; 2011 Maybe Not as Much

October 29, 2010 7:21 AM EDT Send to a Friend
Get Alerts FSLR Hot Sheet
Price: $49.76 +0.67%

Rating Summary:
    11 Buy, 21 Hold, 9 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 13 | Down: 18 | New: 41
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Deutsche Bank downgrades First Solar (Nasdaq: FSLR) from Buy to Hold. PT lowered from $155 to $125

Deutsche analyst says, "First Solar reported 3Q10 results that exceeded estimates and bumped up 2010 guidance to effectively reaffirm near-term outlook. We believe solid fundamentals out to yearend is already priced in, and that 2011 outlook will set the direction for the stock going forward. First Solar is expected to provide 2011 guidance in December. However, early data points hint at declining margins as module ASPs are cut and lower margin EPC business ramps. With so many variable coming into play in 2011 and present valuations, we downgrade the stock."

To see all the upgrades/downgrades on shares of FSLR, visit our Analyst Ratings page.

Shares finished trading at $151.15 yesterday.


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