Mizuho analyst Maheep Mandloi raised the firm’s price target on First Solar (FSLR) to $335 from $278 and keeps an Outperform rating on the shares. While the earnings report pointed to a guidance reduction and de-bookings, the earnings call revealed the former was due to supply chain challenges in Alabama which are now resolved while the de-booking was related to BP’s continued exodus from U.S. solar market, the analyst tells investors in a research note. The firm says neither changes its long-term thesis of First Solar benefiting from solar module price inflation due to tariff catalysts.
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