Deutsche Bank Cuts Estimates, Target (FSLR)

Deutsche Bank analyst Steve O’Rourke this morning repeated his Hold rating on First Solar (FSLR), while cutting his EPS estimates and price target.

For 2010, his EPS estimate drops to $6.02, from $6.53. His price target is now $125, down from $135.

O’Rourke writes in a research note that the moves reflect his view that the 2010 second half will be more difficult than many on the Street have modeled. While he thinks the company has “the strongest company fundamentals in the industry,” he also thinks it faces both pricing pressure and margin compression.

FSLR is down $2.70, or 2.4%, to $111.49.

Labels: Earnings, First Solar Inc, FSLR

posted by Ertai at 10:03 AM