Jefferies analyst Julian Dumoulin-Smith lowered the price target on First Solar (NASDAQ: FSLR) to $199.00 (from $228.00) while maintaining a Hold rating.

The analyst comments "Raising our 2029/2030 ASP estimates on U.S. volumes, and expect upside to bookings and pricing in near term on non-U.S. capacity post S232. However, we perceive favorable pricing environment as shorter duration than Street. Watch S232 exemptions in near term, and accelerating domestic capacity ramp in long term. Maintain Hold, PT to $199."