JP Morgan Calls First Solar the No. 1 Stock to Avoid Next Year

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JPMorgan calls First Solar the number one stock to avoidBy Sam Ro

JP Morgan's (JPM) US equity strategy team led by Tom Lee just published their 2013 forecast for the stock market.

Each time they publish their outlook, they also offer their list of stocks to avoid.

Last year, their list had four stocks. This year the list consists of just one stock: First Solar (FSLR).

JP Morgan analyst Christopher Blansett has an "Underweight" rating on the beleagured solar panel stock with a $14 price target, which means the firm expects the stock price to fall by more than half.

"We see the issues currently plaguing the Solar PV industry-significant overcapacity and declining demand in Europe, which historically has been the largest market-continuing in 2013," wrote Blansett.

"Unless there is a significant increase in North American natural gas pricing, which seems unlikely given continued productivity improvements of shale-based wells, solar PV stocks are likely to remain out of favor with investors in 2013."

So, you've been warned.

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43 Comments

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robmjbprec

We are all renewable energy. No stock purchase necessary.

December 14 2012 at 5:45 PM Report abuse -1 rate up rate down Reply
David Schakett

Cool, thanks for the stock tip. I will buy 100 shares and I will see you at the top. Guaranteed this stock will go double, not 1/2.

December 14 2012 at 12:41 PM Report abuse rate up rate down Reply
WedemanTR

Alot of Republicans on here all bitter and angry and looking for an outlet for their misery because the Magic Underwear is not running the country into the ground like Bush did. Too bad losers !!!!!!! Get over it and stop looking for sites to blast the winner, grow up and move on !

December 14 2012 at 12:08 PM Report abuse rate up rate down Reply
cboowillie

LOL...LOL...LOL...That our answer to being energy independent.....

December 14 2012 at 12:05 PM Report abuse rate up rate down Reply
David & Patty

Watch Obama run to invest American millions of taxpayer dollars into this company (NOT his own money), give hot-air BS speeches as to how great this company is, and watch it go bankrupt like Solyndra. The executives who voted for Obama will get all of Obama's investment money in the form of investments or loans will laugh all the way to the bank.

December 14 2012 at 11:55 AM Report abuse +1 rate up rate down Reply
Robert

Sounds like a good investment for Obama.
He has a track record of working with alternative energy losers

December 14 2012 at 11:31 AM Report abuse +1 rate up rate down Reply
cruzecon

And who bought off JPMorgan? The change over to renewable energy has to happen sometime. Now is when the government should come in and invest in clean energy. Take away the oil subsidies and give them to solar firms and the industry will be able to thrive - just like the early oil industry did because of government help

December 14 2012 at 9:58 AM Report abuse -4 rate up rate down Reply
3 replies to cruzecon's comment
Briknstone

great way for big oil to put down a semi-viable option for clean energy. And althought it will not hte be main solution- panels combined with air turbines can sustain an entire house..it HAS been done!

December 14 2012 at 7:28 AM Report abuse -3 rate up rate down Reply
1 reply to Briknstone's comment
cptsujet

JP Morgan is not big oil you dolt!

December 14 2012 at 9:36 AM Report abuse rate up rate down Reply
IZZIP

......OBAMA LOVES IT !!!!~ It will pay for his Obama Care, Fiscal Cliff, Michelles Vacations, Fast and Furious and Daughters Braces..

December 14 2012 at 5:42 AM Report abuse +5 rate up rate down Reply
jjoushin1

WHY WORRY AT ALL?? 12/21/2012 IS ONLY EIGHT DAYS AWAY!!

December 14 2012 at 1:18 AM Report abuse -1 rate up rate down Reply
1 reply to jjoushin1's comment
poll100

7 days away - greed will dissipate and we will become an honest, ethical nation.

December 14 2012 at 11:31 AM Report abuse +1 rate up rate down Reply
1 reply to poll100's comment
joe4lucy

yeah, right, honest? ethical? nation????

December 14 2012 at 12:39 PM Report abuse rate up rate down