Key TakeawaysFirst Solar was the best-performing stock in the S&P 500 for a second straight day on Wednesday after analysts at UBS raised their price target on the stock, citing its potential to benefit from big tech companies' investments in artificial intelligence (AI).Analysts suggested Microsoft and other hyperscalers may rely on renewable energy companies like First Solar to satisfy AI demand and meet their carbon neutrality goals.First Solar could also benefit from Inflation Reduction Act tax credits. ...

Among the more impressive movers in today’s market is solar technology company First Solar (NASDAQ:FSLR). Shares of FSLR stock are up more than 17% in early afternoon trading, as analysts from both Piper Sandler and UBS raised their price targets on the company.Piper Sandler believes FSLR stock could be headed for $219 per share (currently trading around $247 per share), and UBS raised their target to $270 (much more bullish). In either case, analysts on both the bullish and bearish ends of the spectrum are ...

Key Takeaways The S&P 500 added 0.3% on Tuesday, May 21, 2024, ahead of a noteworthy earnings report and as a Federal Reserve official expressed caution on rate cuts. First Solar shares soared after UBS analysts boosted their price target on the stock, noting the solar panel maker is poised to benefit from tax credits. Shares of Nordson Corp. sank after the industrial equipment maker lowered its full-year outlook, citing challenges in its electronic end markets. Major U.S. equities indexes ticked higher on ...

Tomas RaginaInvestment Thesis First Solar (NASDAQ:FSLR) is strategically positioned to benefit from increasing solar installation forecasts and favorable regulatory conditions. The company’s unique use of Cadmium Telluride technology shields it from polysilicon shortages, and its long-term sold-out capacity indicates strong client demand. Despite industry price declines, First Solar maintains high average selling prices through long-term contracts. With substantial EBITDA growth projections and protecte ...

Justin Paget/DigitalVision via Getty Images Investment Thesis The solar industry has been in contraction for over a year now. However, First Solar (NASDAQ:FSLR) has not only beat the industry, they have also continued to grow at a breakneck pace. As the largest domestic solar manufacturer and most valuable solar company globally, First Solar is well positioned to take advantage of increasing demand for solar panels and government incentives designed to boost domestic production. This article will cover the ...

First Solar (FSLR), a new member of IBD Leaderboard, has rallied sharply in recent months. Today's column introduces a double butterfly options trade in First Solar stock.X After watching the daily recaps on IBD Live this past week, my eyes turned to First Solar stock. Clearly it's a strong name in a previously weak sector. According to IBD Stock Checkup, the utility-scale solar infrastructure firm hosts a mediocre 72 Relative Strength Rating. However, the Composite Rating is 93 on a scale of 1 to 99, tops ...

Justin Paget First Solar Stock Outperformed First Solar, Inc. (NASDAQ:FSLR) can finally breathe a sigh of relief as the embattled thin-film solar PV manufacturer's stock fell into a deep bear market. Accordingly, FSLR stock was down nearly 45% from its 2023 highs before bottoming out in November 2023. I've been bullish about FSLR stock since I upgraded it in late 2023, assessing the "dawn is coming." Although FSLR sellers threatened a "false dawn" in early 2024, FSLR buyers returned with solid convicti ...

Worldwide governments and the corporate sector are focusing on hitting the net zero target in the coming decades. This implies significant investments in the clean energy sector. While industry tailwinds are likely to last for several decades, it does not imply that clean energy stocks will continue to move in one direction.So, expect phases of correction and consolidation on the back of near-term growth headwinds. Long term investors can seize a good entry opportunity in quality clean energy stocks to buy. ...

Finding the best solar stock picks to outperform the market in 2024 will require careful consideration. However, a few needle-in-the-hystack companies stand out among their competitors. The clean energy economy has been in a major slump for the past 12-18 months due to the advent of inflation and higher interest rates. These two factors have weakened demand as a slowdown in construction activity persists. However, the solar industry still has small pockets of growth led by a few industry players that operat ...

First Solar's position in the market isn't as strong as it once was.The one solar energy company that's been insulated from the downturn in the market has been First Solar (FSLR 1.38%), and it's done so by being focused on unique technology and the utility-scale market. But the dynamics that have insulated First Solar are starting to shift, which Travis Hoium covers in this video.*Stock prices used were end-of-day prices of April 4, 2024. The video was published on May 6, 2024. ...