Roth Capital analyst Philip Shen raised his price target for First Solar to $37 from $32 following quarterly results. The analyst says that despite a mixed Q4, first half of 2017 weakness, and lack of industry visibility overall, First Solar could open up and is up about 14% over the past week as expectations may be bottoming, pushing shorts to cover. He reiterates a Neutral rating on the shares given the challenged visibility into industry fundamentals.

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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