Mizuho raises First Solar stock price target to $328 on contract strategy

Green energy companies show mixed results, with Bloom Energy (BE) reporting strong Q3 2026 growth and profitability, while others face challenges. First Solar (FSLR) maintained profitability despite revenue declines. Utilities like NextEra Energy (NEE) deliver steady profits with rising margins. Oil majors, including ExxonMobil (XOM) and Chevron (CVX), remain highly profitable but face cyclical pressures. Investors see varying risk-return profiles across sectors.

First Solar (FSLR) stock has dropped 45.2% from its June 2026 high, trading at 10.1 times earnings. Despite high operating margins, cash flow has been negative in 2026. The company reduced 2026 sales forecasts but maintained gross profit guidance, with a $500M share buyback authorized.

First Solar, Inc. opened the first 1.7 GW phase of its $330M South Carolina facility, aiming to reach 3.4 GW capacity by mid-2027. The plant will produce Series 6 Plus solar modules using CuRe technology to replace copper. The company expects to create nearly 700 jobs and reduce dependence on foreign supply chains, aligning with U.S. trade policies.

Freedom Broker reduced its price target for First Solar (FSLR) to $248 from $280, keeping a Buy rating. Q3 revenue fell 22.8% YoY to $1.23B, missing estimates. EPS beat expectations. FY 2026 guidance was cut due to industry uncertainty. The stock is near its 52-week low, down 32% YTD. Multiple analysts adjusted targets, with mixed outlooks.

First Solar reported Q3 2026 net sales of $1.23B, a 58% gross margin, and $571M net income. Sales fell 23% YoY due to lower module volumes, but gross margin rose 20% points and net income increased 25% YoY. The company authorized a $500M stock buyback but cut its full-year sales forecast to 16.0-17.0 GW.

First Solar (FSLR) reported Q3 2026 revenue of $1.23B, down 22.8% YoY, missing estimates. Full-year guidance was reduced to $4.75B. Management cited lower module volumes, project delays, and policy uncertainty. Despite slower bookings, pricing improved due to project-specific contracts. The company is investing in technology and expects future performance to depend on U.S. policy and customer procurement trends.