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UPDATE: Collins Stewart Downgrades First Solar to Neutral

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According to Collins Stewart, First Solar (NASDAQ: FSLR) is downgraded to Neutral.

Collins Stewart said that FSLR announced last evening that due to a construction permit issue, the Department of Energy loan approved for its Antelope Valley Solar Ranch One (AVSR) project has not been funded. ā€œGiven the additional risks created by this permitting issue, the shares having risen past our price target and the potential for ground systems to be limited in CY12 by a German policy change, we are reducing our rating from Buy to Neutral.ā€

First Solar closed yesterday at $49.03.

Posted-In: Collins StewartAnalyst Color Downgrades Analyst Ratings

 

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