Mizuho initiated coverage of First Solar with a Buy rating and $188 price target. Earnings through 2026 likely have “a high degree of immunity to near-term spot pricing pressure” due to take-or-pay contracts and average selling prices, or ASPs, likely have limited downside beyond 2026 as U.S. wafer/cell capacity should be undersupplied, the analyst tells investors. The firm also views the stock valuation as “attractive,” the analyst added.
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