Similarly First Solar International (FSLR) declined 8.8% during the week. For the 2010 fourth quarter, the company reported earnings per share at $1.80 vs. estimates of $1.74, while sales came in at $609.8 million vs. consensus $646.8 million. For 2011, the company expects net sales in the range of $3.7 billion-$3.8 billion vs. estimates of $3.76 billion and earnings per share in the range of $9.25-$9.75 vs. consensus $9.10.
Susquehanna increased its price target on First Solar to $190 from $180 on the company's fourth-quarter results citing improved revenue mix. RBC Capital raised its price target on the stock to $190 from $160 on expectations that the company will likely generate higher than expected margins and production. Meanwhile, UBS cut its rating to neutral from buy.
Other solar stocks ReneSola (SOL), Yingli Green Energy Holdings (YGE), GT Solar International (SOLR), LDK Solar (LDK), Trina Solar (TSL) and Suntech Power Holdings (STP) declined around 9.3%, 3.7%, 3.6%, 1.9%, 1.8%, and 1.5%, respectively.
Exterran Holdings (EXH) dipped 7.3% during the week, after 2010 fourth quarter losses widened to 51 cents per share from analysts' estimates of 34 cents.Ultra Petroleum (UPL) dropped 5.8% after Global Hunter Securities cut the stock to accumulate from buy. Meanwhile, UBS lowered its target price to $49 from $51, maintaining neutral rating, and lowered 2011 EPS to $2.65 from $2.70 vs. consensus estimates of $2.93 per share. Among others, Chesapeake Midstream Partners (CHKM), Forest Oil (FST), Weatherford International (WFT) and Tesoro (TSO) dipped 9.1%, 8.9%, 8.1% and 6.4%, respectively.
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