Goldman Sachs Downgrades First Solar (FSLR) to Sell

Goldman Sachs downgraded First Solar (NASDAQ: FSLR) from Neutral to Sell with a price target of $48.00 (from $75.00).

Analyst Brian lee is negative on the stock citing a tougher setup given cyclical headwinds and has a Cautious view on the sector as well. The sees the company well positioned relative to peers due to a strong balance sheet and ongoing execution of Series 6 ramp but sees the equity struggling given significant supply chain price degradation in H2 2018 due to oversupply. Lee sees cyclical headwinds capping EPS upside will pressuring the multiple coupled with a relatively unattractive risk/reward offering.

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 $55.53 yesterday.

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