First Solar: Bull and Bear Mull Q2 Upside, German Rebates

It was a strange quarter for solar panel maker First Solar (FSLR) last night. The company reiterated its forecast for 2009 revenue, which was probably expected, but it also beat Q2 revenue, leaving some disappointed with the lack of upside for the rest of the year. Moreover, the big issue on the call, the decision by the company to offer rebates in Germany is paradoxical given that it was $84 million in revenue from Germany, analysts say, that helped the company beat Q2 expectations. Do the rebates signal a continuing threat of price erosion and stalled customers as First Solar competitors cut their prices?

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