The news is by your side.
AED
$0.27
-0.88%
AFN
$0.01
-0.88%
ALL
$0.01
-0.88%
AMD
$0.00
-0.88%
ANG
$0.56
-0.88%
AOA
$0.00
-0.88%
ARS
$0.01
-0.88%
AUD
$0.71
-1.09%
AWG
$0.56
-0.88%
AZN
$0.59
-0.88%

First Solar Shares are Soaring Today. Here’s Why


Shares of First Solar (NASDAQ:) are trading 5% higher today after Piper Sandler analyst Kashy Harrison upgraded the stock from Neutral to Overweight with a $90.00 per share price target (up from $80.00).

The analyst sees that the recent bookings momentum, driven by AD/CVD investigation, provides strong volume/pricing visibility through 2024.

“We view ’22 as a trough margin year and see the potential for improving COGS as logistics normalize, new contracting structures de-risking margins manifest in ’23/’24, and startup expenses associated with facility construction subside,” Harrison said in a client note.

The analyst forecasts that revenues and EBITDA could go from $2.4/$0.1B in ’22 to $4.3/$1.2B by ’24.

“Our upgrade is not a call on a tariff outcome as FSLR could have pricing/volume visibility through much of ’25 by the time a preliminary tariff is announced in August. Finally, FSLR possesses option value if an energy bill is passed (lower probability… excluded from valuation). At 4.5x ’24 EV/EBITDA with $1.1B of net cash expected at YE’22, we like FSLR’s lower risk multi-year earnings growth outlook,” Harrison added.

FSLR shares are down over 30% YTD.

By Senad Karaahmetovic



Read More : First Solar Shares are Soaring Today. Here’s Why

You might also like
Leave A Reply

Your email address will not be published.