First Solar transferred with Neutral rating at Citi

Citi analyst Vikram Bagri raised the firm’s price target on First Solar to $220 from $75 and keeps a Neutral rating on the shares after taking over coverage of the name. The analyst expects the solar sector to see "continued unprecedented growth" but sees near-term uncertainty for the U.S. residential solar sector. The firm prefers geographically diversified names with European exposure, as well as utility and commercial scale versus residential exposure. Its top picks are Enphase Energy (ENPH), Eneti (NETI), SolarEdge Technologies (SEDG) and Shoals Technologies (SHLS). Citi’s least preferred names are Generac (GNRC) and SunPower (SPWR).