Exiting the Q4 earnings season, JPMorgan analyst Paul Coster remains constructive on Alternative Energy. The analyst's picks are First Solar (FSLR), SolarEdge (SEDG), Sunnova Energy (NOVA) and Sunrun (RUN). Coster also has Overweight ratings on Bloom Energy (BE), Enphase Energy (ENPH) and Hannon Armstrong (HASI). Alternative Energy looks like a good place to be invested at present, mainly owing to positive fundamentals, but also owing to socially responsible investor interest in the space, Coster tells investors in a research note.

As previously reported, Evercore ISI analyst Sean Morgan upgraded First Solar to Outperform from In Line with an unchanged price target of $227. The market is expecting the Biden administration to remove a trade exemption for bifacial solar modules imported to the U.S., which now represent about 98% of U.S. solar imports, the analyst noted. Solar panel imports skyrocketed in 2023 to 54GW and some market participants have stated that reliance on imports and oversupply are negatively impacting solar domestic factories, which have been a priority for the current U.S. administration, putting pressure on greater U.S. trade protections and policy support, the analyst added.

Evercore ISI analyst Sean Morgan upgraded First Solar to Outperform from In Line with a $227 price target.

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B. Riley lowered the firm's price target on SolarEdge to $124 from $133 and keeps a Buy rating on the shares ahead of the Q1 report. With high interest rates and channel dynamics impacting the solar industry, resulting in uncertainty and low visibility around growth, B. Riley continues to advocate for solar/storage ownership models, the analyst tells investors in a research note. The firm views Altus Power (AMPS) and HASI (HASI) as its top ideas for the rest of 2024. These are the best two ways to play the space and have higher growth visibility in a challenging macro environment, the analyst tells investors in a research note.