BMO Capital on First Solar (FSLR): 'We Would Buy FSLR'

BMO Capital analyst Ameet Thakkar reiterated an Outperform rating and $260.00 price target on First Solar (NASDAQ: FSLR).

The analyst commented: "We would buy FSLR, especially on any FY 2025 guidance-related weakness. We see pressure to FY 2025 FSLR sales from poor Indian solar equipment market conditions that may crowd out Malaysian and Vietnam series 6 volumes and potential for additional project push outs. As a result we have reduced our 2025 revenue estimate to $5.1B (prior $5.48B; consensus $5.5 billion). That said, FSLR remains our favorite name in 2025. At the current price, the stock is discounting terminal ASP of $0.23/watt, and we see recent AD determination eventually pushing U.S. module prices to mid-$0.30/ watt. We estimate FSLR shares trading at 11.2x 2026E EBITDA without PTCs."

For an analyst ratings summary and ratings history on First Solar click here. For more ratings news on First Solar click here.

Shares of First Solar closed at $192.88 yesterday.

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