UPDATE: Collins Stewart Sees Sunny Side of First Solar; Upgrades from Neutral to Buy

Collins Stewart has published a research report on First Solar Inc

upgrading the company's stock. In the report Collins Stewart wrote, "While some of these issues are transitory, we are concerned that module prices continue to decline in the industry and that demand remains tepid in many markets, with increasing indications that banks have taken a more cautious approach to lending to solar projects, potentially due to concerns about their capital requirements." Collins Stewart upgraded First Solar from Neutral to BUY with a price target of $132.00. First Solar closed Thursday at $96.49.