First Solar (FSLR) surges 10% as ITC adder will require cell and module
(Updated - May 12, 2023 9:26 AM EDT)
First Solar (NASDAQ: FSLR) climbs 10% as domestic content ITC adder will require cell & module, according to analysts: The company also announced a deal to acquire Evolar.
- Analyst at RothMKM notes: "Our checks with multiple confirmations suggest the domestic content ITC adder will require cell & module. Our checks also indicate that there is no grace period for foreign-produced cells. This is a substantial positive for FSLR. Look for the stock to be up and the company to announce more capacity expansion soon if this is true. As we wrote here, we believe the next round of capacity could help FSLR's cost structure go sub 20c/W ex-freight in the coming years"
- Earlier First Solar Strengthens Global Technology Position in PV with Acquisition of Evolar, a Leading European Thin Film Company
- Array Technologies, Inc. (NASDAQ: ARRY) is up 6% early, likely on the same news