Jefferies reiterates its Hold rating and $47 target price on First Solar FSLR ahead of the company's guidance preview for 2012.
Jefferies says, “Given the challenged end market conditions and decreasing poly costs at c-Si competitors, we do not expect the stock to react positively unless FSLR pulls a rabbit out of its hat in the form of a higher efficiency CIGS module or adoption of c-Si modules for the rooftop market.”
FSLR closed at $45.67 per share on Monday.
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