BMO Capital analyst Ameet Thakkar maintained a Buy rating on First Solar (FSLR – Research Report) today and set a price target of $187.00.
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Ameet Thakkar has given his Buy rating due to a combination of factors that highlight First Solar’s potential for long-term growth. Despite a reduction in the company’s 2025 guidance, Thakkar sees significant upside in the company’s future module average selling prices (ASPs) and terminal value, particularly from 2027 onwards. This outlook is supported by First Solar’s position as a key player in the U.S. solar market, benefiting from the Inflation Reduction Act (IRA) which enhances its earnings power and backlog growth.
Thakkar notes that while current order volumes are low due to tariff and IRA policy uncertainties, First Solar’s strategic advantage as the only major U.S. solar module producer positions it well for future demand. The company’s ability to negotiate tariff impacts with customers further strengthens its market position. Thakkar believes that with the recent guidance update, the risk/reward profile is more balanced, making it an opportune time for investors who share his long-term positive view on the IRA’s impact on the solar industry.
In another report released today, TD Cowen also maintained a Buy rating on the stock with a $200.00 price target.