RBC Capital analyst Chris Dendrinos reiterated an Outperform rating and $315.00 price target on First Solar (NASDAQ: FSLR).

The analyst said: "The U.S. Department of Commerce (DoC) announced its preliminarily determination into dumping of solar from Southeast Asia countries. As anticipated, the DoC determined solar is likely being sold in the United States at less-than-fair value. Dumping rates for key importers into the U.S. are significant and should be supportive of U.S. pricing, in our view. For the most part, manufacturers submitting for company-specific rates qualified for a lower rate but these are still significant. We estimate SEA manufacturing costs of $0.20/watt, pre-dumping tariffs and Section 201 tariffs. Assuming a ~53% tariff, we estimate SEA import prices could increase to over $0.33/watt and would be significant enough to promote a shift to U.S. based manufacturing. We believe the outcome is a positive for FSLR."

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 $199.27 yesterday.