FBR Downgrades First Solar (FSLR) to Underperform; $200 Target
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Friedman Billings Ramsey downgrades First Solar (Nasdaq: FSLR) from Market Perform to Underperform and raises its price target from $155 to $200, citing concerns related to margins.
Shares of First Solar are slightly off a recent 52-week high of $317, which was set on Wednesday of last week. The solar sector has been absolutely on fire lately as these companies have been reporting blow-out earnings over the last couple weeks. Today's blow-out earnings come from Solarfun (Nasdaq: SOLF), which reported Q1 EPS of $0.32, which doubled the Street's estimate of $0.16.
In pre-market trading, First Solar is down about $4, or 1.3%, to $295.00.
First Solar, Inc. designs, manufactures, and sells solar electric power modules using a proprietary thin film semiconductor technology.
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