These Analysts Boost Their Forecasts On First Solar Following Upbeat Results
Portfolio Pulse from Avi Kapoor
First Solar, Inc. (NASDAQ:FSLR) reported first-quarter earnings surpassing expectations with GAAP earnings of $2.20 per share against estimates of $1.97 and sales of $794 million versus expected $702.175 million. The company maintained its 2024 guidance with earnings of $13 to $14 per share and revenue of $4.4 to $4.6 billion. Following the announcement, analysts from Goldman Sachs, Morgan Stanley, Mizuho, Jefferies, and Oppenheimer raised their price targets on FSLR.
May 02, 2024 | 1:16 pm
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POSITIVE IMPACT
First Solar reported higher-than-expected Q1 earnings and sales, with analysts raising price targets following the announcement.
The positive earnings report and subsequent analyst upgrades are strong indicators of confidence in First Solar's financial health and market position. This typically leads to increased investor confidence and can drive the stock price up in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100