First Solar: Near-Term Headwinds but Strengthening Long-Term Outlook Amid U.S. Manufacturing Shift

First Solar, the Technology sector company, was revisited by a Wall Street analyst today. Analyst Sean Milligan from Needham maintained a Buy rating on the stock and has a $303.00 price target.

Sean Milligan has given his Buy rating due to a combination of factors that extend beyond the near-term weakness in guidance. He interprets 2026 as a transitional period in which First Solar shifts manufacturing capacity from Southeast Asia to the U.S., positioning the company to benefit more fully from domestic policy incentives and an improving regulatory backdrop.

While the new 2026 revenue and adjusted EBITDA outlook came in below consensus, he sees these headwinds as temporary and tied largely to timing and one‑off non-standard costs. As these costs normalize and policy and trade clarity emerge, Milligan expects a stronger bookings environment from 2027 onward and structurally higher gross margins excluding credits, supporting a favorable long‑term risk‑reward profile for FSLR shares.

According to TipRanks, Milligan is an analyst with an average return of -1.0% and a 58.33% success rate. Milligan covers the Technology sector, focusing on stocks such as First Solar, Shoals Technologies Group, and Nextpower Inc.

In another report released today, TD Cowen also maintained a Buy rating on the stock with a $253.00 price target.