The stock has to perform today or face a potential breakdown. It's currently come back from the day's lows at $135.99, down six bits.
Raymond James downgrades First Solar (Nasdaq: FSLR) from Strong Buy to Outperform.And from MarketWatch:
This morning's downgrade follows last night's FY10 sales and earnings guidance. The stock initially traded higher on the solid outlook, but is selling-off modestly today, currently down 0.7% to $135.82....
...J.P. Morgan Analyst Christopher Blansett lifted his 2010 earnings target for First Solar to $6.30 a share from $5.90 a share.
First Solar may see a surge in German business in the first half of 2010 in a rush of activity ahead of a planned cut in solar subsidies, Blansett said.
In the second half of 2010, First Solar will, "turn its focus to other regions and its engineering, procurement and construction (EPC) business and the pipeline of projects that have been cultivated," Blansett said.
First Solar does see its margin profile declining in the third quarter of next year, when the lower-margin EPC business becomes a larger percentage of overall revenue, Blansett said....