Shares of First Solar Inc. fell more than 7% on Wednesday as analysts with Credit Suisse downgraded the stock to their equivalent of sell, from hold. The timing on several of the company’s projects this year poses risks to estimates, and next year’s projects seem “unlikely to support” earnings growth, the analysts said in a note. The analysts also lowered their price target on the stock to $29, from $30, implying a 12% downside to Wednesday’s prices. First Solar late Tuesday reported fourth-quarter earnings and sales that beat Wall Street expectations.
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