Key Takeaways:
- First Solar (FSLR, Financial) experiences a significant boost following an upgrade from Wolfe Research.
- The stock's average price target suggests minimal downside, while GuruFocus metrics indicate substantial upside potential.
- Analysts' consensus remains positive, forecasting a strong performance for First Solar.
First Solar (NASDAQ: FSLR) recently saw its stock price surge by nearly 20% in response to Wolfe Research’s rating upgrade to "Outperform," accompanied by a revised target price of $221. The analyst emphasized newfound clarity regarding 45X tax credits, projecting benefits for the company despite the political uncertainties typical of an election year. This boost is further reinforced by First Solar's robust domestic operations and the competitive advantage provided by foreign trade restrictions.
Wall Street Analysts' Forecasts
Examining the forecasts from 33 Wall Street analysts, the average target price for First Solar stands at $191.70. This estimate is framed within a high of $277.00 and a low of $100.00. With the current stock price at $192.47, these projections hint at a slight downside of 0.40%. For a more comprehensive view, visit the First Solar Inc (FSLR, Financial) Forecast page.
Moreover, 40 brokerage firms provide a consensus recommendation that designates First Solar (FSLR, Financial) with an average rating of 2.0, firmly placing it in the "Outperform" category. Here, the rating scale ranges from 1 (Strong Buy) to 5 (Sell).
GuruFocus’s Valuation Insights
According to GuruFocus estimates, First Solar (FSLR, Financial) is projected to have a GF Value of $289.58 in one year, suggesting an upside of 50.46% from its current trading price of $192.47. The GF Value represents GuruFocus's assessment of the stock’s fair value, derived from historical trading multiples, past growth trajectories, and future business performance projections. More insights and detailed data are accessible on the First Solar Inc (FSLR) Summary page.
