S&P Capital IQ Reiterates its SELL Rating on First Solar

October 28 00:00 2011

NEW YORK, October 28 (RainbowNewsLine.com) – Analyst Angelo Zino of S&P Capital IQ reiterates his SELL rating on the shares of First Solar (NASDAQ: FSLR).

Analyst Angelo Zino, in a research note published yesterday mentions that the company posted its Q3 EPS ahead of the estimates. First Solar has lowered its 2011 EPS guidance to a range of $6.50-$7.50, which is in line with the estimates but below the consensus of $8.50. The earlier than expected Q3 results declaration was to ease up the concerns following the news of CEO Rob Gillette’s departure, the analyst says.  First Solar is expected to reduce major capital expenditures and aims for cost reduction as it tries to cruise through the tough solar landscape in 2012, the analyst adds.