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First Solar Growth Story Over: Analyst

First Solar is one of the most actively viewed stocks on CNBC.com and has gained 30 percent since its March lows. But is the solar panel maker still a good investment? Theodore O'Neill, of Kaufman Brothers Equity Research gave his take to CNBC.

"It's a growth story that's lost its growth," says O'Neill. "The company has had to finance customers, they've had to help out with their distributors ... and the world is awash right now with low cost solar panels, forcing First Solar to compete for the first time ever."

"If you boil this all done, solar panels are a commodity and in commodities you get single digit growth profit margins, maybe high teens and there's a long way to go from their margins in the 50 percent range down to that level," said O'Neill.

O'Neill and his firm have a sell rating on First Solar .

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GM

Wells Fargo

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Disclosures:

Neither O'Neill or his firm own First Solar.

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