Tuesday, January 13, 2009

First Solar: Citi Cuts Rating, Target, Estimates; Contends Street Is Too Ambitious On Hopes For Stimulus Plan (FSLR)

From Tech Trader Daily:
Citigroup’s Timothy Arcuri this morning cut his rating, target and estimates on First Solar (FSLR)....
...Arcuri thinks the Street is over-estimating the impact on the sector from the pending Obama Administration stimulus plan. “Solars have rallied on pending government stimulus bill and FSLR has several sizable utility-class deals in the pipeline, but our new work suggests incremental demand from this bill will soak up only ~20% of excess cell/module supply in ‘09 and ~35%-40% in 2010,” he writes....MORE