Jefferies Maintains Hold, $47 Target on First Solar

Jefferies reiterates its Hold rating and $47 target price on First Solar

ahead of the company's guidance preview for 2012. Jefferies says, “Given the challenged end market conditions and decreasing poly costs at c-Si competitors, we do not expect the stock to react positively unless FSLR pulls a rabbit out of its hat in the form of a higher efficiency CIGS module or adoption of c-Si modules for the rooftop market.” FSLR closed at $45.67 per share on Monday.