Wells Fargo says that Tesla’s (TSLA) plan to build 100 GWs of U.S. solar capacity caused a selloff in solar, but the firm sees limited impact to First Solar (FSLR) given its cost advantage and pricing power. Other U.S. manufacturers including Canadian Solar (CSIQ) face more risk, in Wells’ view. The firm stays positive on Overweight-rated First Solar and recommends buying on weakness.
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