Auriga Maintains Hold on First Solar (FSLR)

Auriga is out with its report today on First Solar

, maintaining Hold. In a note to clients, Auriga writes, "Unlike most other management teams in the solar industry, the FSLR team has an established track record that should be recognized. That said, we are not willing to put new money to work in shares of FSLR as there is not enough upside to our $167 target to warrant the risk. We are adjusting our 2011 estimates to mimic the new revenue and operating income targets, while our 2012 EPS estimate is unchanged; we find no reason to alter our Hold rating." At the time of posting, shares of FSLR were trading pre-market at $157.01, down 4.66% from Thursday's close.