Friday, October 29, 2010

First Solar Downgraded by Deutsche Bank, Trading below the 50-day SMA in Early Pre-market (FSLR)

UPDATE: "Barclays Capital Says First Solar's Earnings Beat And Raise Wasn't Enough" and Hapoalim Raises Price Target to 25% Below Current (FSLR)

Original post:
I saw some shares trade hands at $139.50, currently $140.55 -10.60
A quick hit via StreetInsider:
Deutsche Bank Downgrades First Solar (FSLR) to Hold; 2010 Strong; 2011 Maybe Not as Much
Deutsche Bank downgrades First Solar (Nasdaq: FSLR) from Buy to Hold. PT lowered from $155 to $125

Deutsche analyst says, "First Solar reported 3Q10 results that exceeded estimates and bumped up 2010 guidance to effectively reaffirm near-term outlook. We believe solid fundamentals out to yearend is already priced in, and that 2011 outlook will set the direction for the stock going forward....MORE
Here are some lines on the chart (via Big Charts):

Major Support is at the 50 day MA $139.69.

Major Support is at the 100 day MA if the 50 day does not hold ($132.54).