Deutsche Bank Reports Strong 2011 Guidance for First Solar

Deutsche Bank is out with its report on First Solar FSLR noting strong 2011 guidance. In a note to clients, First Solar writes, "First Solar's 2011 guidance beat Consensus expectations; however, the 2.0GWp output projection upon which guidance is based may be aggressive and leaves little room for error. Additionally, we believe recent negative news flow on FiT rates, including Germany where the potential for more midyear FiT rate cuts in 2011 are being discussed and France's recent cuts, raise the risk of declining module ASPs and potentially pressure sales and margins outlook. In view of these headwinds, we maintain our Hold rating and $125 price target." FSLR is trading at $138.51.