First Solar price target lowered to $200 from $214 at Citi

Citi lowered the firm’s price target on First Solar to $200 from $214 and keeps a Neutral rating on the shares. The analyst believes the company’s analyst day “provided unmatched clarity on forward financials, strong technology roadmap, and greater appreciation for cutting edge manufacturing process.” Despite a better than expected outlook, the stock has pulled back sharply due to falling U.S. module prices, which is impacting the terminal value, the analyst tells investors in a research note.