First Solar price target raised to $300 from $270 at Roth Capital

Roth Capital analyst Philip Shen raised the firm’s price target on First Solar (FSLR) to $300 from $270 and keeps a Buy rating on the shares. The company delivered a mixed Q3 and weak implied Q4 guide as bookings were higher than expected while headline bookings average sales prices, ASP, were lower, the analyst tells investors in a research note. The stock recovered during the earnings call however on bullish ASP commentary and 6.6GW of canceled volume expected to rebook at much higher pricing, Roth added.