Friday, September 11, 2009

Kaufman Brothers: "First Solar Growth Story Over" (FSLR)

Despite Tuesday's pop (up almost $13.00) on the big China announcement the stock is looking sickly. It traded as high as $144.82 on Wednesday. Last I saw was $136.71 down $3.44. From CNBC:
First Solar is one of the most actively viewed stocks on and has gained 30 percent since its March lows. But is the solar panel maker still a good investment? Theodore O'Neill, of Kaufman Brothers Equity Research gave his take to CNBC.

"It's a growth story that's lost its growth," says O'Neill. "The company has had to finance customers, they've had to help out with their distributors ... and the world is awash right now with low cost solar panels, forcing First Solar to compete for the first time ever.">>>MORE