UPDATE: DNB Markets Upgrades First Solar to Hold

DNB Markets raises its rating on First Solar (NASDAQ: FSLR) to Hold from Sell on improved valuationDNB Markets says, "We have upgraded First Solar from SELL to HOLD as the valuation has improved since the company's Q4 report in late February. However, we do not believe the risk/reward is sufficiently attractive to justify further upgrades in light of the uncertainty surrounding the German market and limited near-term triggers. We would also prefer to see further cost improvements to ensure the company can remain cost-competitive and offset price pressure from increasingly efficient polysilicon-based modules."FSLR closed at $27.32 a share on Tuesday.