Bernstein SocGen Group Reiterates Underperform Rating on First Solar (FSLR)

Bernstein SocGen Group analyst Sunaina Ocalan reiterated an Underperform rating and $217.00 price target on First Solar (NASDAQ: FSLR).

The analyst commented: "We initiated last week on Power and Energy Transition, and we’ve got some push back on our Underperform on FSLR, mainly around how we’re not giving them credit for Section 232 tariffs, or a possible 45X extension. We believe the bull case hinges on:1) Section 232 tariffs on polysilicon imports that would limit solar panel imports into the US and hence allow FSLR to maintain or raise ASPs and not lose market share. 2) The extension of 45x tax credits beyond 2032, allowing FSLR to offset costs and maintain current margins beyond our modeled phase-out year. 3) A growing U.S. utility scale solar market."

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 $248.64 yesterday.

You May Also Be Interested In

• Chevron signed an agreement with Iraq's Basra Oil Company to advance commercial negotiations for West Qurna 2
• Uber (UBER) Reiterated at Market Outperform by Citizens on Delivery Hero Deal
• Citi Upgrades Grupo Aeroportuario del Pacifico SAB de CV (GAPB:MM) (PAC) to Buy