JPMorgan analyst Mark Strouse raised the firm’s price target on First Solar to $222 from $192 and keeps a Neutral rating on the shares. The company reported Q2 results well above expectations and announced plans for a new U.S. manufacturing facility, the analyst tells investors in a research note. While bookings slowed during Q2, order activity has spiked thus far into Q2, with a series of extended supply contracts pushing month-to-date bookings to nearly 8 GW, says the firm. However, it continues to believe the First Solar shares are fairly valued.
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