ThinkEquity & Merriman Curhan Ford are out with downgrades of First Solar following earnings.
ThinkEquity downgrades from Buy to Hold
Merriman Curhan Ford downgrades from Buy to Neutral. “We are downgrading to Neutral given the uncertain business outlook in 2H10 despite a strong 4Q09 and management reaffirming its 2010 earnings guidance. Solar module makers are expected to face revenue and margin volatility as a result of changing conditions in overcapacity and FiT policies. (We would … Read the rest
Analysts have been, for the most part, negative on First Solar this morning which is why the stock continued to slide in pre market trading. It has stabilized though and holding steady in the 155 – 157 range. I wouldn’t be surprised to see a retest of the 150 before this is all said and done, particularly if this market ever goes into a meaningful correction. That would provide another great place to add a … Read the rest
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