First Solar price target raised to $157 from $127 at Jefferies

Jefferies raised the firm’s price target on First Solar (FSLR) to $157 from $127 and keeps a Hold rating on the shares after reconsidering estimates following the FEOC restrictions focus in the House bill. The firm sees “real merit” to an extended life for the Southeast Asia manufacturing footprint as Foreign Entity of Concern restrictions in the House Bill and ITC voting in the antidumping duty and countervailing duty proceeding could, at least in the near-term, result in a demand pull for First Solar SEA volume, provided reciprocal tariffs are not raised to prior levels, the analyst tells investors.