After a rough start to the year, First Solar (FSLR) is showing signs of life.
In fact, after dropping from about $198.87 in recent weeks, it appears to have caught strong support after refilling its bullish gap from early May.
Now at $159.37, we’d like to see FSLR rally back to $200 initially.
Helping, analysts at Jefferies recently raised their price target by $30 a share to $157. The adjustment follows a detailed review of the House bill’s potential impacts, including restrictions under the Foreign Energy Output Credit (FEOC), as noted by Investing.com.
Analysts at Mizuho raised their price target by $24 a share to $275 with an outperform rating. As noted by Guru Focus, “The firm’s [Mizuho’s] evaluation, informed by the House’s proposed legislation and further industry insights, reveals a more optimistic scenario for renewable energy compared to widespread concerns. Most large-scale renewable initiatives continue to remain financially viable, thanks to existing credits valid until 2028, with strong demand expected to persist as renewables remain the most cost-effective option.”
Sincerely,
Ian Cooper
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