Hapoalim Securities Starts First Solar (FSLR) With Sell Rating, $90 Target

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11:07:24 am on October 31, 2008

According to StreetInsider.com, Hapoalim Securities is going against the grain of yesterday’s 5 Buy ratings on First Solar (FSLR) and issuing a Sell rating and $90 price target.

The firm indicates that FSLR is a high quality firm with less implied risk but that a better entry point may emerge once the dust settles.  Their concerns include a weakening Euro, Germany risk, lower selling prices, Malaysia start up costs as well as headwinds in the broader solar market (financing costs, oversupply)

They called yesterday’s move mostly a short squeeze rather than real investor interest.

I’m sticking to my belief that if you can get FSLR anywhere near 100, its one heck of a buy.

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