First Solar Bookings Were 'Subdued' In Q4: 9 Analysts Examine Earnings, Outlook
Portfolio Pulse from Priya Nigam
First Solar Inc (NASDAQ:FSLR) shares rose after reporting higher-than-expected Q4 earnings, with analysts providing positive outlooks despite subdued bookings. Analysts highlighted strong pricing, a robust backlog, and favorable guidance for 2024. Price targets were adjusted, reflecting confidence in the company's performance amidst a challenging solar market.
February 28, 2024 | 4:43 pm
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POSITIVE IMPACT
First Solar Inc reported higher-than-expected Q4 earnings, leading to a positive stock price movement. Analysts remain bullish, adjusting price targets upwards due to strong pricing and a robust backlog.
The positive earnings report and the subsequent analyst endorsements, including raised price targets, indicate a strong short-term bullish sentiment for FSLR. The company's ability to maintain strong pricing and a solid backlog despite subdued bookings supports this optimism. The stock's immediate positive reaction further underscores the market's favorable reception of the earnings report and analyst outlooks.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100