UPDATE: Wolfe Research Upgrades First Solar (FSLR) to Outperform, 'Winning the long game'

Wolfe Research analyst Steve Fleishman upgraded First Solar (NASDAQ: FSLR) from Peerperform to Outperform with a price target of $170.00.

The analyst comments "Our concerns aren't playing out. We've expected a huge step-change in earnings for FSLR given the highly lucrative IRA credits and their incumbent advantage as the only large U.S. solar manufacturer. However, we also assumed competition would eventually come and credits would start to be meaningfully competed away in 2026 and beyond. Our view has changed. FSLR booked another staggering 16.6 GW since the last call and is almost fully booked for 2026 (vs. thru 2025 just a quarter ago). A $0.32/watt ASP on these new sales means FSLR's rates are going up at a time when we thought they'd start to be competed down!"

For an analyst ratings summary and ratings history on First Solar click here. For more ratings news on First Solar click here.

Shares of First Solar closed at $131.18 yesterday.

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