Jefferies analyst Julien Dumoulin Smith has maintained their bullish stance on FSLR stock, giving a Buy rating on September 30.
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Julien Dumoulin Smith has given his Buy rating due to a combination of factors that highlight First Solar’s strong market position and growth potential. The company’s U.S. capacity is fully booked through 2028, indicating robust demand and a solid backlog that supports future revenue streams. Additionally, First Solar is benefiting from favorable policy tailwinds, including AD/CVD measures and Section 232, which provide a competitive edge and solidify its role as a leading OEM for solar modules.
Operationally, First Solar is expected to see improvements in its margin profile and cost savings, particularly in logistics and detention costs, which are projected to save $500 million by 2025. The company’s strong free cash flow generation, estimated at $9 billion from 2025 to 2028, provides flexibility for strategic investments, including potential M&A activities and share buybacks. These factors, combined with a compelling valuation and a raised price target of $260, suggest significant upside potential, reinforcing the Buy recommendation.
According to TipRanks, Dumoulin Smith is a 4-star analyst with an average return of 5.0% and a 53.93% success rate. Dumoulin Smith covers the Utilities sector, focusing on stocks such as American Electric Power, Ameren, and Alliant Energy.
In another report released on September 30, Deutsche Bank also maintained a Buy rating on the stock with a $255.00 price target.