First Solar, Inc. (FSLR) is the world's biggest solar panel maker, and it's getting bigger.
In the latest trading session, First Solar (FSLR) closed at $255.75, marking a +0.04% move from the previous day.
STOCK MOVED HIGHER THROUGHOUT THE DAY AND CLOSED NEAR THE HIGH
Truist Securities analyst Jordan Levy initiated the coverage on First Solar, Inc. FSLR with a Buy rating and price forecast of $300.
First Solar (FSLR) reachead $244.98 at the closing of the latest trading day, reflecting a -1.72% change compared to its last close.
One should refrain from buying FSLR right now considering its premium valuation. Yet, those who own it may continue to do so considering its upbeat estimates and manufacturing capacity expansion plans.
In the closing of the recent trading day, First Solar (FSLR) stood at $241.81, denoting a +0.76% change from the preceding trading day.
FSLR's investment thesis has been temporarily destabilized by the ongoing US elections, with the country's future renewable policy hanging in the balance. Even so, with a robust backlog through 2030 and ongoing capacity additions, we believe that it remains well positioned to weather the near-term uncertainties. This is on top of the promising global/ US trends surrounding utility-scale solar/ renewable capacity growth in H1'24, with things to accelerate over the next few years.
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Zacks.com users have recently been watching First Solar (FSLR) quite a bit. Thus, it is worth knowing the facts that could determine the stock's prospects.
First Solar stands out among solar stocks, doubling since early 2021 despite broader industry declines, supported by strong financials and favorable growth prospects. FSLR's Q2 results exceeded expectations with a GAAP EPS of $3.25 and $1 billion in revenue, maintaining robust future earnings and revenue forecasts. Political and competitive risks exist, but FSLR's technical chart shows a bullish trend, with support around $200 and a potential upside to $295.
First Solar, Inc. investors recently endured a harsh bear market as the stock topped out in June 2024. The Fed is expected to cut interest rates this week, potentially helping the stock to consolidate more constructively. First Solar's growing backlog has improved its revenue conversion clarity, although China's dominance of the solar supply chain remains a critical risk.