Goldman Sachs analyst Brian Lee upgraded First Solar (FSLR) to Buy and raised his price target for the shares to $57 from $48. The stock closed yesterday up 10c to $42.56. Solar stocks underperformed in 2018 as tariffs, China policy and oversupply drove a cyclical correction, Lee tells investors in a research note on the sector. However, heading into 2019, the analyst believes "green shoots are emerging." He says demand is improving, selling prices are stabilizing, and China is likely a positive catalyst in terms of policy. As such, Lee raised his Solar coverage view to Neutral and upgraded First Solar and Canadian Solar (CSIQ) to Buy. He thinks First Solar shares offer an attractive risk/reward at current levels. The analyst names the company the "best U.S. utility-scale play and value in solar."

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Wells Fargo upgraded First Solar to Overweight from Equal Weight with a price target of $250, up from $187. The firm says that as the solar sector continues to struggle due to several headwinds, it is getting more defensive with its ratings. Wells upgrade First Solar due to its relative stability and several potential catalysts. The firm downgraded Sunnova Energy (NOVA) as interest rates may stay higher for longer. First Solar is sold out through 2026, which provides near-term earnings stability, the analyst tells investors in a research note. The firm also sees a number of potential catalysts on the horizon from the lifting of bifacial exemptions, further trade barriers on Chinese panels, restricting Inflation Reduction Act credits and a potential Trump presidency.