Goldman Sachs Downgrades First Solar (FSLR) to Neutral Citing Lack of Catalysts

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April 17, 2012 6:53 AM EDT
Get Alerts FSLR Hot Sheet
Price: $225.56 +0.84%

Rating Summary:
    37 Buy, 18 Hold, 4 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 13 | Down: 14 | New: 11
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Goldman Sachs downgraded First Solar (NASDAQ: FSLR) from Buy to Neutral with a 6-month price target of $24 (down form $45).

The firm sees less compelling risk/reward given limited near-term catalysts and an uncertain strategic direction longer-term. Goldman expects shares to remain range bound until confidence improves related to: (1) stabilizing module margins, (2) systems volume post-2014 and (3) warranty risks.

Goldman's 2012E/13E EPS are unchanged but they cut 2014E/15E EPS 40%/60% to $4.00/$3.00.

For an analyst ratings summary and ratings history on First Solar click here. For more ratings news on First Solar click here.

Shares of First Solar closed at $20.82 yesterday.

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