On April 28, we noted, “Keep an eye on solar stocks, like First Solar (FSLR). FSLR is consolidating around $178 a share. From here, we’d like to see it retest $200 a share near term.”
At the time, FSLR traded at $177. Today, it’s up to $289 and could see higher highs. Helping, UBS says. “In our view, FSLR is an overlooked, direct beneficiary of increasing AI-driven electricity demand,” added CNBC.
Goldman Sachs also says FSLR still has room to run.
“We remain bullish on the outlook for FSLR and believe several tailwinds could support higher [average selling prices] or potential capacity expansion,” they said, as quoted by CNBC.
For one, FSLR could benefit as foreign competitors face higher tariffs. Two, it should benefit from tariffs on imported solar modules from China. And three, it’ll benefit from “rising electricity demand as tech companies seek renewable energy to power data centers and artificial intelligence. Goldman has estimated that power demand from data centers will more than double, reaching 8% of total U.S. consumption by 2030,” added CNBC.
Sincerely,
Ian Cooper
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