First Solar (FSLR) reported lower-than-expected third-quarter earnings and revenue, citing a $50 million product warranty reserve charge. The company also lowered its 2024 sales and earnings outlook due to industry volatility and political uncertainty. Despite the challenges, First Solar remains confident in its long-term growth strategy.
First Solar, Inc. (FSLR) saw a significant Power Inflow on September 26th, indicating potential institutional buying pressure and a possible uptrend in the stock. This event presents a potential entry point for traders looking to capitalize on the expected upward momentum.
Truist Securities analyst Jordan Levy has initiated coverage on First Solar, Inc. (FSLR) with a ‘Buy’ rating and a price target of $300. Levy highlights First Solar’s competitive edge in the utility-scale solar market, driven by its innovative technology, ongoing R&D investments, and strong contracted backlog. He expects First Solar’s modules to become even more competitive with ongoing technology enhancements and forecasts $640 million in aggregate R&D spend from 2024 to 2026.
