First Solar price target raised to $194 from $187 at BofA

BofA raised the firm’s price target on First Solar to $194 from $187 and keeps a Buy rating on the shares after after adjusting 2024 estimates for seasonality and marking-to-market valuation. Despite the backdrop of declining solar panel prices, First Solar has proven their ability to sustain pricing, says the analyst, who sees numerous trade policies ahead helping hold the market intact despite a slide in pricing quarter-over-quarter. The firm’s revised Q1 EPS estimate of $2.06 is slightly above the $2.03 consensus, the analyst noted.