On April 28, we noted, “Keep an eye on solar stocks, like First Solar (FSLR). Over the last few days, President Biden unveiled a $7 billion grant for solar power under the Inflation Reduction Act.” At the time, FSLR traded at around $177.
Today, it’s up to $193.81 and could see higher highs.
Helping, Goldman Sachs just raised its price target on FSLR to $268 after the company posted strong earnings. “As the demand picture continues to improve, management discussed the potential for adding incremental factories, which we view as a key catalyst,” Goldman Sachs said, as quoted by CNBC.
In addition, “First Solar remains undervalued due to its status as the go-to company for U.S. customers seeking domestically produced modules,” JPMorgan said, as also quoted by CNBC. The firm raised its price target to $240 a share.
Sincerely,
Ian Cooper
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