First Solar "We value First Solar at 8x our 2012 ex-writeoff estimate of $3.80, and 5.5x our 2013 estimate of $5.46," Bank of America Merrill Lynch analysts wrote in a report on May 31. "Although we expect earnings to decline, the company's decision to reduce fixed cost and manufacturing capacity has reduced the rate of decline, and the result is that we see higher earnings and a higher potential earnings multiple. We note that the $30 price objective places the company at a slight discount to anticipated book value of $34 following the scheduled writedowns." Shares of First Solar hit a 52-week low on Monday of $11.43. The stock's 52-week high of $142.22 was set on June 30. Twenty-seven of the 39 analysts who cover First Solar rated it hold. Six analysts gave the stock a sell rating and another six rated it buy. The stock has fallen 64.84% year to date.