First Solar Gets 21% Price Target Bump By Analyst, Here's Why

First Solar Gets 21% Price Target Bump By Analyst, Here's Why
  • Keybanc analyst Sophie Karp maintained First Solar Inc FSLR with an Overweight and raised the price target from $145 to $175.
  • She updated her estimates to reflect the Annual Maintenance Contract's (AMC) impact on FSLR's earnings in 2023 and beyond. 
  • She also boosted the price target to reflect the value of tax credits FSLR is eligible for. 
  • Also Read: First Solar Earns Analyst Upgrade Thanks To Strength In Bookings
  • The re-rating reflected her belief that the impact of the IRA is not fully reflected in the valuation yet, despite the recent outperformance. 
  • She also envisions further potential upside from incremental capacity additions, which she believes would be well-supported by the current economics. 
  • Price Action: FSLR shares traded lower by 3.95% at $147.55 on the last check Monday.

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