RBC Capital analyst Christopher Dendrinos reiterated an Outperform rating and $236.00 price target on First Solar (NASDAQ: FSLR).

The analyst commented: "Shares have capitulated since 4Q25 earnings where FSLR reported an outlook that was below expectations on tariff pressures (see here). Near-term, we believe shares are range bound absent tariff policy clarity (expected in July). We believe incremental downside exists from the possibility of a facility closure in SEA if the company is unable to find an offtaker. However, shares have capitulated since earnings and now trade more inline with the historical average while peers trade at a premium, and we view consensus estimates as fairly conservative. We believe this could mean that downside from here is more limited."

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Shares of First Solar closed at $203.47 yesterday.