“We had been negative on First Solar, believing consensus had looked too high. This has now come down to fall closer in line with our forecasts. With this, and the recent correction in the share price, we have upgraded our recommendation from SELL to HOLD, with an unchanged target price of USD27.,” DNB Markets’ analyst commented.
First Solar opened at 26.90 on Tuesday. First Solar has a 52-week low of $11.43 and a 52-week high of $36.98. The stock’s 50-day moving average is currently $29.77. The company’s market cap is $2.344 billion.
Other equities research analysts have also recently issued reports about the stock. Analysts at Raymond James upgraded shares of First Solar from an underperform rating to a market perform rating in a research note to investors on Thursday, March 7th. Separately, analysts at Macquarie reiterated a neutral rating on shares of First Solar in a research note to investors on Wednesday, March 6th. They now have a $24.00 price target on the stock. Finally, analysts at Northland Securities initiated coverage on shares of First Solar in a research note to investors on Friday, March 1st. They set an underperform rating and a $20.00 price target on the stock.
Four research analysts have rated the stock with a buy rating, sixteen have given a hold rating, four have assigned an underweight rating, and five have given a sell rating to the company. The stock presently has a consensus rating of hold and a consensus price target of $26.64.
First Solar, Inc. manufactures and sells solar modules with an advanced thin-film semiconductor technology, and it designs, constructs, and sells photovoltaic (PV) solar power systems.
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