First Solar price target raised to $269 from $268 at Oppenheimer

Oppenheimer analyst Colin Rusch raised the firm’s price target on First Solar to $269 from $268 and keeps an Outperform rating on the shares. With First Solar executing well across metrics, the firm believes strong pricing for new bookings was a positive surprise. Oppenheimer continues to see domestic content adders from the IRA, import cost risk, broader pricing risk vs. First Solar’s price clarity, and its history of on-time delivery as supporting sales. The firm thinks these elements significantly simplify the number of variables developers manage and streamline project timelines and cash flow. Further, Oppenheimer is encouraged to see the company executing to plan on its capacity expansion and guiding to incremental operating leverage.