Standpoint Research Downgrades First Solar (FSLR) to Hold

Standpoint Research downgraded First Solar (NASDAQ: FSLR) from Buy to Hold.

"I can no longer leave my highest recommendation attached to this name. First Solar shares have jumped by 70% in the last 90 days and are now fairly valued. FSLR shares are trading at 80X estimates for this year and 60X speculative estimates for next year. Price to Book Value is 1.0; Price-to-Sales is 1.5; the market cap is $4.6 billion dollars; there is $2.4 billion dollars in cash versus just four hundred million dollars in debt."

For an analyst ratings summary and ratings history on First Solar click here. For more ratings news on First Solar click here.

Shares of First Solar closed at $44.02 yesterday.

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