The stock is trading down $2.12 at $102.86. As I said in this morning's "Hapoalim Cuts First Solar Target to $65 on Cadmium Telluride Risk; It Won't Matter and Probably Sets an Intermediate Low (FSLR)" my best guess is that near-term all the sellers who want out, are out.
Citi maintains a 'Hold' on First Solar, Inc. (Nasdaq: FSLR), but lowers price target from $135 to $125.
Citi analyst says, "We have long argued that EPS here will not start to meaningfully grow again until 2012, following three years of stagnating EPS (2009-2011). While we still rate the stock Hold, we continue to feel our concerns are not fully discounted until $90-$100 (18-20x our C2011 EPS sensitivity assuming 1.20 FX)....MORE