Baird analyst Ben Kallo said he view First Solar as a top pick for investors with a long-term view and would be an "aggressive buyer" of shares at current levels. The analyst thinks the 2017 earnings "cliff" is largely priced into the stock and that there could be upside to investor expectations for the company, which he also sees as having a strong balance sheet, pipeline, and technology edge. Kallo lowered his price target on First Solar to $60 from $68 but maintains an Outperform rating on the stock.

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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