U.S.-based solar energy solutions company First Solar’s (FSLR)stock has faced a tough year amid reduced support for renewable energy providers under the Trump administration. Despite this, Mizuho Securities is pushing back against the prevailing bearish sentiment. Notably, Mizuho’s analyst Maheep Mandloi reiterated his Buy rating on FSLR stock, naming it the firm’s top pick in the renewable energy sector. Mandloi also raised its price target to $275 from $251, marking the street’s highest for FSLR stock.
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Mizuho Calls Renewable Outlook ‘Less Dire’
FSLR stock dropped more than 5% on Monday, deepening its decline to a steep 45% loss over the past 12 months. The recent sell-off was triggered after U.S. Secretary of Energy Chris Wright canceled $3.7 billion worth of clean energy projects over the weekend, adding to investor concerns about waning government support.
However, Mandloi stated that the “renewable outlook is less dire than consensus fears,” expressing renewed confidence in First Solar’s fundamentals and long-term growth prospects. He pointed out that with tax credits secured through 2028, large-scale renewable projects will continue to be feasible. Furthermore, Mandloi emphasized that demand is expected to remain robust beyond 2028, driven by the comparatively low costs of renewable energy.
KeyBanc Keeps Bearish Stance on First Solar
However, some Wall Street analysts remain cautious, believing the selloff may persist. KeyBanc analysts noted last week that while the current federal spending package isn’t the worst-case scenario for First Solar, it could still change as it progresses through the Senate.
They expect the Senate to continue seeking additional budget cuts, which could impact the Advanced Manufacturing Production Credit that benefits First Solar, potentially resulting in deeper reductions than anticipated. KeyBanc maintains a Sell rating with a $100 price target on FSLR stock.
Is FSLR a Good Buy Now?
Turning to Wall Street, FSLR stock has a Strong Buy consensus rating based on 22 Buys, three Holds, and one Sell assigned in the last three months. Also, the average First Solar stock price target of $210.12 implies a 40% upside potential from current levels.

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