First Solar upgraded to Buy from Neutral at Goldman Sachs. 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."
