Jefferies analyst Julian Dumoulin-Smith lowered the price target on First Solar (NASDAQ: FSLR) to $187.00 (from $205.00) while maintaining a Hold rating.

The analyst comments "We increasingly flag concerns around inflationary logistics costs permeating through the industry due to the ME conflict, possibly impacting margins NT. Extent and duration are unclear, but we lower our margin profile for FY26. Policywise, keeping an eye on S337 on TopCon. Expect updates on S232 in May. Could see SEA capacity shutter in 2Q. Still on the sidelines for now on NT headwinds (margins + muted backlog)."