First Solar price target raised to $163 from $152 at Credit Suisse

Credit Suisse analyst Maheep Mandloi raised the firm’s price target on First Solar to $163 from $152 and keeps a Neutral rating on the shares. The firm increased its 2023/2024 EPS estimates to $7.50/$13.98 from prior $6.91/$13.34 due to higher-than-expected solar module production, ASP improvements on bifacial upgrades, partially offset by higher ramp and production start-up costs, the analyst tells investors in a research note.