First Solar pricing ‘should buoy the stock,’ says JPMorgan

naJPMorgan says First Solar reported Q4 earnings ahead of expectations on lighter than expected revenue with quarterly bookings approximately aligned with expectations. The fiscal 2024 earnings guidance came in ahead of consensus and largely aligns with the September analyst day targets, the analyst tells investors in a research note. The firm continues to believe First Solar’s extended visibility into margin levels and cash flows “provides a relative safe haven for investors.” It says the company’s “encouraging pricing should buoy the stock” and keeps an Overweight rating on the name with a $226 price target.