Daiwa analyst Jonathan Kees has maintained their bullish stance on FSLR stock, giving a Buy rating today.
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Jonathan Kees has given his Buy rating due to a combination of factors that highlight both challenges and opportunities for First Solar. Despite the disappointing first-quarter results and the negative impact of tariffs, the company still maintains a robust backlog and a strong sales funnel, indicating continued demand for its solar modules. The company’s ability to produce a significant amount of solar modules and its strategic positioning in the growing renewable energy sector are positive indicators for future growth.
Furthermore, while the tariffs have introduced uncertainty, First Solar’s management has been proactive in adjusting their guidance and exploring potential scenarios to mitigate these impacts. The company’s efforts to increase production in the U.S., despite higher costs, and the potential benefits from section 45x credits, reflect a strategic approach to navigating current market challenges. These factors, combined with the overall growth in electricity demand and solar energy’s critical role in meeting this demand, support the Buy rating given by Jonathan Kees.
In another report released today, Roth MKM also maintained a Buy rating on the stock with a $200.00 price target.