7/105 sources · 4 publishersUpdated Oct 12, 18:31 UTC
Truist upgrades First Solar to Buy and lifts price target
Truist Securities upgraded First Solar from Hold to Buy and raised its price target to $270 from $229. The firm cited a stronger pricing and demand outlook, including a 17% increase in its 2029 U.S. module average selling price estimate. First Solar shares rose after the call, although the reported gain varied during the session.
Why it matters
The upgrade gives First Solar a more favorable analyst view after its recent share-price decline. Truist's thesis is that stronger pricing, U.S. solar demand and anti-stockpiling measures could improve the company's future contracting opportunities.
Key facts
- 1Truist raised its First Solar price target to $270 from $229 while upgrading the shares to Buy from Hold. cnbc.com
- 2Truist increased its 2029 U.S. module average selling price estimate by 17%. investing.com
- 3Truist cited a U.S. utility-scale solar forecast averaging 44 GWdc in 2027-35E. cnbc.com
- 4U.S. restrictions on imports of polysilicon and its derivatives under Section 232 are scheduled to take effect Dec. 4. cnbc.com
Open questions
- Material 4's summary describes a $229 price target, while the other materials report that Truist raised the target to $270 from $229; the material does not clarify whether the $229 figure is a current target or the prior target.
Summary written by AlphAI AI Desk from 5 of 5 sources. Not investment advice. Figures are as stated by the linked sources.