Analyst Dimple Gosai from Bank of America Securities reiterated a Buy rating on First Solar and increased the price target to $254.00 from $209.00.
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Dimple Gosai has given his Buy rating due to a combination of factors including First Solar’s strategic positioning and regulatory advantages. The company is transitioning from policy-driven growth to a focus on execution, with significant U.S. capacity expansions expected to enhance its market position. The regulatory environment continues to favor First Solar, as restrictions on China-linked imports and potential new enforcement measures could strengthen its pricing power in the U.S. market.
Additionally, First Solar’s strong bookings momentum, with record orders in July, indicates robust demand for its products. The company’s ability to maintain premium pricing due to its compliance with U.S. policies and its insulation from polysilicon volatility further supports its competitive edge. With U.S. capacity sold out through 2028, First Solar is well-positioned for sustained growth, making it an attractive investment opportunity according to Gosai’s analysis.
In another report released yesterday, Citi also maintained a Buy rating on the stock with a $300.00 price target.