Citigroup Adds First Solar To 'Focus List'

In a note released Tuesday, Citigroup analyst Shahriar Pourreza added First Solar FSLR to the firm's "Focus List."

Pourreza wrote, "Our sector tilt is favorable towards solar downstream names versus the upstream manufacturers - First Solar is the bellwether in the downstream market. First Solar's balance sheet strength and bankability premium should allow it to continue to capture large scale projects in key growth regions globally."

Citigroup currently rates First Solar as a Buy with an $87 price target.