The stock has given back some of this morning's initial pop, trading at $140.43 up $1.79.
Citigroup Inc. raised its price target for First Solar, Inc. (NASDAQ:FSLR), from $140 to $145, according to a research note Thursday
"On unchanged volume and module/EPC mix assumptions, we are assuming ~$0.03-0.05/W better module pricing," wrote Timothy M. Arcuri. "As a result, we are raising F2011 EPS from $7.47 to $8.08 (Street $8.26). On 2010, however, we are trimming EPS in each of CQ3 and CQ4 by ~$0.05-0.10 as we true up our model to reflect slightly more aggressive near-term pricing as FSLR moves to take share in these new European markets. While trimming, we are notably now just in-line w/consensus so we don't see a lot of downside risk to estimates in 2H:10. Our F2012 EPS of $10.59 is largely unchanged. On the back of our new estimates, our target is tweaked slightly higher to $145 meaning FSLR is fairly valued at this price. Maintain Hold."...