Jefferies downgraded First Solar (FSLR) to Hold from Buy with a price target of $260, down from $269. The firm is cautious on the shares in 2026 citing the company’s limited booking visibility and “emerging strategic questions.” Jefferies expects First Solar’s S232 tailwind to “underwhelm investor expectations” due to potential carve-outs for Germany watering down pricing and developers moving ahead of duties. As such, it sees limited upside in the shares from current levels.
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