First Solar downgraded to Hold at GLJ Research on weak guidance

As previously reported, GLJ Research downgraded First Solar (FSLR) to Hold from Buy with a price target of $207.82, down from $314.43. 2026 guidance was “a meaningful miss” across revenue, volumes, and EBITDA, says the analyst, who adds that the company’s forecasts weren’t “even close to the low end of buyside expectations.” The stock’s forward narrative “now hinges almost entirely” on the Section 232 polysilicon decision due at the end of March, the analyst added.