First Solar Price Target Lowered at Barclays, Raised at Wedbush (FSLR)

From SmarTrend:

Barclays Capital Solar Energy analyst Vishal Shah said in a Friday note that while First Solar's (NASDAQ:FSLR) Q2 report was above consensus estimates, the upside was largely attributable to the $84 million Lieberose revenue recognition. The quarter was strong, but 2009 guidance was maintained with difficult second-half market conditions expected. He wrote, "Q2 was perhaps the peak quarter this cycle in many respects - margins, ASP declines (relative to Chinese competition), cost reduction benefits, bargaining power over customers - all 4 metrics peaked this quarter." Lowering the stock's price target to $140, he concluded, " FSLR remains best-of-breed technology provider with strong balance sheet and solid execution track-record. Relative to Chinese competition, we think there is less long term execution risk with FSLR story. Having said that, we believe shares could decline to $120-$125 levels in the near term at which point longer term earnings story becomes more interesting."

From StreetInsider:

Wedbush Morgan lifts its price target on First Solar, Inc. from $170 to $195, reiterating their Outperform rating. The firm said the company continues to post solid results despite difficult industry condition.

SI NOTE: Wedbush was one of the few analysts positive on the stock this morning. After trading 10% higher original following last night's results, shares of the battleground stock are now down 10%.