Analysts say First Solar (FSLR -21.6%) probably still hasn’t owned up to how bad things can get,...

|By:, SA News Editor

Analysts say First Solar (FSLR -21.6%) probably still hasn’t owned up to how bad things can get, even after the solar bellwether's massive guidance cut. Wunderlich, in lowering its price target on shares to $38 from $55, says FSLR has "few levers to lower costs and stay competitive, but it doesn’t extricate the company from chasing falling prices... it is chasing a rabbit down the hole."