First Solar price target raised to $201 from $175 at KeyBanc

KeyBanc analyst Sophie Karp raised the firm’s price target on First Solar to $201 from $175 and keeps an Overweight rating on the shares. The analyst notes First Solar is one of her top picks in the space going into 2023 due to its attractive valuation, and potential for additional positive catalysts in the near-term. Despite the recent run in the shares, Karp continues to like the name and sees further upside. First Solar remains the most direct beneficiary of the manufacturing tax credit provisions of the IRA and has ample capacity expansion opportunities, she adds.