First Solar price target lowered to $269 from $321 at BofA

BofA lowered the firm’s price target on First Solar (FSLR) to $269 from $321 and keeps a Buy rating on the shares. Although volume guidance was reduced, primarily due to three contract terminations and modules originally assumed to be sold this year, these issues “appear largely idiosyncratic” and the firm views recent challenges as “situational rather than structural,” the analyst tells investors in a post-earnings note.