First Solar Is Balancing Rising Capacity And Falling Prices: Analyst Initiates With Cautious Outlook
Portfolio Pulse from Lekha Gupta
BMO Capital Markets analyst Ameet Thakkar initiated coverage on First Solar Inc (NASDAQ:FSLR) with a Market Perform rating and a price target of $204. Thakkar sees FSLR as the only significant U.S. producer of domestic solar modules and a 'winner' under the inflation reduction act (IRA). However, he is cautious about the stock due to falling global prices for solar modules and the rise in capacity in the U.S.
July 10, 2023 | 5:47 pm
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NEUTRAL IMPACT
First Solar Inc (FSLR) is expected to benefit from the inflation reduction act (IRA) and increased demand for domestic solar modules. However, falling global prices for solar modules and increased U.S. capacity could pose challenges.
The analyst sees FSLR as a significant player in the U.S. solar module market and expects it to benefit from the IRA. However, falling global prices for solar modules and increased U.S. capacity could negatively impact the company's performance.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100