Deutsche Bank Sees First Solar (FSLR) As Leader, But LowersPrice Target After Analyst Day
First Solar (FSLR) held its analyst day yesterday in Vegas,reiterating near term challenges but optimistic about the future. Deutsche Bank is weighing in with its own comments saying the companyis entering a transitional period as it looks to open new markets. Itbelieves the company is uniquely positioned as one of a few solarcompanies that can grow the solar PV market beyond one that is heavilysubsidized as well as substantially increase its own market share. However, Deutsche is lowering the price target from $170 to $167, whilemaintaining a HOLD rating.
First Solar (FSLR) is trading down 2% this morning, but welloff the morning lows. It still looks a bit weak technically and in myopinion it probably needs to test the 200 day moving average around 150before staging the next leg higher.
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