First Solar initiated with a Buy at Truist

Truist analyst Jordan Levy initiated coverage of First Solar with a Buy rating and $300 price target. First Solar is a pioneer in thin-film module technology and the firm sees the company continuing to strengthen its competitive moat as geopolitical tensions coincide with pricing pressures in the silicon-based module supply chain. Ultimately, the firm sees this situation driving more developers to secure fully U.S. manufactured modules, while limiting the ability for incremental U.S. cell capacity build-out.