Why First Solar (FSLR) Stock Is Down Today

NEW YORK (TheStreet) --First Solar (FSLR) was falling -4.8% to $64.44 Tuesday following an OTR report that China plans to cut its 2014 solar installation targets.

The Chinese government reportedly plans to cut its targets due to credit availability issues. The government previously set a 2014 installation target of 14GW, with 8GW of distributed systems and 6GW of utility.

The report also dragged down shares of SolarCity (SCTY) and JinkoSolar (JKS), among other solar power companies.

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TheStreet Ratings team rates FIRST SOLAR INC as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:

"We rate FIRST SOLAR INC (FSLR) a HOLD. The primary factors that have impacted our rating are mixed -- some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures and reasonable valuation levels. However, as a counter to these strengths, we also find weaknesses including disappointing return on equity, weak operating cash flow and poor profit margins."

Highlights from the analysis by TheStreet Ratings Team goes as follows:

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