First Solar just upgraded at Morgan Stanley, here’s why

Morgan Stanley upgraded First Solar to Overweight from Equal Weight with a price target of $237, up from $214. After the 20% selloff in the past three months, First Solar shares have an attractive risk/reward profile, the analyst tells investors in a research note. The analyst believes the company offers one of the strongest risk-adjusted earnings profiles within the U.S. clean technology sector with its sold-out position through 2026. When combined with its cost hedging, First Solar should see relatively low-risk margin expansion through 2026, contends Morgan Stanley.