First Solar (FSLR – Research Report), the Technology sector company, was revisited by a Wall Street analyst yesterday. Analyst Michael Blum from Wells Fargo maintained a Buy rating on the stock and has a $177.00 price target.
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Michael Blum has given his Buy rating due to a combination of factors that suggest potential growth opportunities for First Solar despite current challenges. The company faces uncertainty due to tariffs, which have impacted its guidance for 2025. However, Blum sees several catalysts that could drive future performance, including potential changes to domestic content rules, the Federal Energy Regulatory Commission’s (FEOC) decisions, and the establishment of US finishing lines which could enhance margins.
First Solar’s guidance for 2025 presents a range of scenarios, with the high end assuming stable tariffs and continued operations in Vietnam and Malaysia. The low end anticipates higher tariffs and potential operational shifts, which could pose risks. Despite these uncertainties, Blum’s analysis suggests that strategic moves like importing semi-finished products to the US could significantly improve margins by reducing tariff and shipping costs. These factors, combined with a revised price target reflecting adjusted EBITDA estimates, underpin Blum’s Buy rating for First Solar.
In another report released today, Roth MKM also maintained a Buy rating on the stock with a $200.00 price target.
FSLR’s price has also changed moderately for the past six months – from $199.670 to $137.240, which is a -31.27% drop .