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First Solar: Are Their Customers Piling Up Inventory?

in News on December 12, 2008 at 10:03 am PT

Jonathan Hoopes of ThinkEquity concluded this morning that major customers of First Solar are sitting on what could be substantial inventory in their warehouses. Since it’s unlikely that impediments to solar market growth are lifting any time soon, or that said inventory’s going anywhere fast, he cut his price target from $175 to $105, and his estimated EPS for both 2009 and 2010.