First Solar price target raised to $233 from $188 at Wells Fargo

Wells Fargo analyst Michael Blum raised the firm’s price target on First Solar to $233 from $188 and keeps an Overweight rating on the shares. The firm notes First Solar continues to enhance and extend its backlog with high ASPs and orders into 2029. Wells projects First Solar to earn about $20 of EPS by 2025 with upside tied to capacity expansions and domestic content.