First Solar price target lowered to $286 from $311 at BMO Capital

BMO Capital analyst Ameet Thakkar lowered the firm’s price target on First Solar to $286 from $311 and keeps an Outperform rating on the shares. The company’s Q2 earnings call was uneventful, which is likely a mixed outcome for near-term share price performance, the analyst tells investors in a research note. BMO had anticipated another modest quarter in terms of bookings volume due to election uncertainty, which came to fruition, but the firm had also hoped for pricing in the $0.32-0.33/watt area given ongoing antidumping / countervailing duty complaint, the analyst added.