Deutsche Bank Lowers Price Target On First Solar (FSLR)
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Deutsche Bank is making comments on First Solar (Nasdaq: FSLR) this morning after FSLR held its analyst day in Las Vegas yesterday. Deutsche said First Solar is entering a transitional period as it looks to open new markets.
At the meeting, First Solar reiterated and refined its long term cost leadership strategy, its long-term strategic plan to open markets, and it reiterated near-term market challenges.
Deutsche believes First Solar is uniquely positioned as one of a select few companies that can effectively grow solar PV beyond being a heavily subsidized market in the coming few years. Over the long-term, Deutsche expects FSLR to substantially grow its market share, but at the same time, it is lowering First Solar's price target from $170 to $167, while maintaining its Hold rating on the company.
First Solar is trading down 3.90% this morning to $164.52.
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