Citi Initiates Coverage on First Solar (FSLR) with a Buy
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Citi initiates coverage on First Solar (Nasdaq: FSLR) with a Buy. Price target $450.
Citi analyst says, "Despite being a very strong performer in 2007, we still see upside outstripping downside of ~$200 by ~2:1. FSLR is the pre-eminent name in solar and should be a core holding. We think consensus estimates are far too conservative in 2010 such that it actually trades about in-line with stocks like SPWR that have much more exposure to significant pricing declines we see brewing in 2009/2010."
First Solar, Inc. designs and manufactures solar modules using a thin film semiconductor technology.[SM]
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