Why First Solar's Stock Is Trading Higher Today

First Solar, Inc. FSLR shares are trading higher after Guggenheim analyst Joseph Osha initiated coverage on the stock with a Buy rating and announced a $113 price target.

Strength possibly also in sympathy with other solar stocks amid SolarEdge Technologies, which gained after reporting strong Q2 results and issuing upbeat Q3 guidance.

First Solar provides photovoltaic solar energy solutions in the United State, Japan, France, Canada, India, Australia, and internationally. It operates in two segments, Modules and Systems.

First Solar's stock was trading about 4% higher at $91.82 per share on Tuesday. The stock has a 52-week high of $112.50 and a 52-week low of $59.52.