Today the stock closed down another 3.45 percent at $20.98 and is less than a buck from the November 2006 IPO price.
It is down TwoHundredNinetySix dollars from the May 14, 2008 top-tick.
From Tech Trader Daily:
JP Morgan Cuts Target to $20 on Continued Subsidy Uncertainty
J.P. Morgan’s Christopher Blansett this morning cut his price target on shares of First Solar (FSLR) to $20 from $35, reiterating an Underweight rating, and withdrew his price target for SunPower (SPWR), writing that the global subsidies for solar power “show no signs of stabilization,” resulting in uncertain pricing for solar power modules.And again, from Tech Trader Daily:
One the one hand, “expected solar industry growth in C12 and beyond is likely to benefit foreign (Chinese and Japanese) manufacturing given that demand growth will likely materialize in their countries,” writes Blansett.
On the other hand, “It remains to be seen when the price of modules will begin to stabilize, though we do think we are near that point.”...MORE
FSLR: Citi Sees Remove of Overhang in DOE ‘Antelope’ Payment
Citigroup‘s Timothy Arcuri this afternoon reiterates a Neutral rating on shares of First Solar (FSLR) and a $45 price target, writing that the company has removed one near-term overhang by announcing that its Antelope Valley Solar Ranch One project in southern California has received its first advance on a loan from the U.S.Department of Energy....MOREReiterating a neutral is sort of like the weather guy getting excited about a stationary front.