First Solar price target raised to $230 from $162 at Barclays

Barclays raised the firm’s price target on First Solar to $230 from $162 and keeps an Equal Weight rating on the shares. Excluding India, the analyst estimates First Solar’s gross margins should hit 30% over the duration of the firm’s forecast period and could continue to widen through the end of decade if the company continues to provide visibility for flattish selling prices in outer years.