First Solar (FSLR)

Nov 2, 2022Trade Ideas

First Solar (FSLR) could see higher highs.

Over the last few weeks, the solar stock ran from about $116 to $148.57. And analysts believe there’s further upside ahead. Bank of America, for example, now has a price target of $165 on the stock. Guggenheim raised their price target on FSLR from $200 to $233, with a buy rating.

Barclays also upgraded the FSLR stock to equal weight from underweight, with a price target of $162. As noted by, Barclays said, “Demand for domestically-manufactured products supports First Solar’s pricing power while its almost sold-out status through 2026 “kicks the concern about potential ASP deterioration down the road.”

Shares of FSLR were up another $3 a share just yesterday on a volume spike to 3.6 million shares, as compared to average volume of 3.1 million. This morning, FSLR is up another 65 cents in pre-market.

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