UBS analyst Jon Windham upgraded First Solar to Buy from Neutral with a price target of $250, up from $140. UBS sees First Solar as the most significant beneficiary of the Inflation Reduction Act, with high visibility on capacity, revenue and earnings growth through 2026, the analyst tells investors in a research note. The scale of the domestic manufacturing tax credits more than absorbs concerns about the potential impacts of startup and ramp costs driving margin dilution in 2023-2024E as First Solar ramps U.S. manufacturing, the firm says.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly
See the top stocks recommended by analysts >>
Read More on FSLR:
- First Solar price target lowered to $190 from $215 at Deutsche Bank
- Early notable gainers among liquid option names on March 1st
- First Solar price target raised to $260 from $255 at Guggenheim
- Origis Energy enters agreeent with First Solar for 2 GW of modules
- First Solar price target raised to $205 from $195 at Cowen