First Solar price target raised to $240 from $237 at JPMorgan

JPMorgan raised the firm’s price target on First Solar to $240 from $237 and keeps an Overweight rating on the shares. The company reported Q1 results above expectations driven primarily by timing of deliveries, the analyst tells investors in a research note. The firm believes the stock remains undervalued owing to First Solar’s status as a go-to for U.S. customers seeking domestic supply.