Soleil Securities Downgrades First Solar (FSLR) to Hold; Oversupply Remains A Threat
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Soleil Securities downgrades First Solar, Inc. (Nasdaq: FSLR) from Buy to Hold. Price target increased from $160 to $170.
Soleil analyst says, "Downgrade to Hold from Buy given our concerns about module oversupply and pricing. No change '09E$8.10, above consensus $7.14, but reducing '10E to $8.25, below consensus E8.75, from $10.27 due to module pricing pressure."
First Solar, Inc. designs and manufactures solar modules using a thin film semiconductor technology. The Company’s solar modules employ a thin layer of cadmium telluride semiconductor material to convert sunlight into electricity.
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