First Solar initiated with a Buy at Needham

Needham initiated coverage of First Solar (FSLR) with a Buy rating and $286 price target The firm views First Solar as one of the “most policy-advantaged ways” to play U.S. utility-scale solar following the One Big Beautiful Bill. Needham sees the company’s free cash flow inflecting in 2026, creating “optionality” for platform expansion and capital returns. Longer term, improved visibility into 2028 domestic pricing could increase First Solar’s earnings power, the analyst tells investors in a research note.