JPMorgan's stock to avoid in 2013: First SolarDecember 14, 2012: 3:19 PM ET
First Solar (FSLR) made JPMorgan's short list of stocks to avoid in 2013.
In fact, the solar panel maker was the only stock to make the list. That's an unusual move for JPMorgan (JPM), whose equity stock analysts typically pick several stocks to avoid as part of their year-end roundup.
First Solar earned this dubious distinction for the second year in a row, but to be fair, JPMorgan's analysts weren't exactly prescient last year.
First Solar's shareholders have been a wild ride this year, but the stock is currently down only 4% this year. It's certainly nowhere near a worst-performer of 2012. In fact, more than 80 of the S&P 500 have fared worse, with Apollo Group's (APOL) 61% drop year to date making it the worst performer on the broad index.
In a research note, JPMorgan analysts cited "overcapacity and declining demand in Europe" as a major headwind for First Solar in 2013.
Solar power stocks have struggled this year, but one company -- SolarCity (SCTY) -- has braved the public markets. The company, which installs and helps finance solar panels, debuted with a 40% stock rally Thursday. Even though the stock eased off that high Friday, it's off to a good start.