First Solar price target lowered to $307 from $344 at Baird

Baird lowered the firm’s price target on First Solar to $307 from $344 and keeps an Outperform rating on the shares. The firm aligned its model with average selling prices and cost per watt guidance into the Q2 report. The company is “uniquely positioned in the crosshairs between several themes” including the rise in data centers, geopolitical tension with China, and growing need for power, the analyst tells investors in a research note. The firm believes the shares will appreciate as costs fall and evidence of pricing durability presents itself in new bookings.