Barclays(US:BCS) Investor Place·2024-08-06 15:34Core Insights - Barclays has raised price targets for several stocks, indicating improved financial health or favorable trends in the industry, which often leads to increased investor interest [1] Group 1: First Solar (FSLR) - First Solar's price target was raised from $280 to $290, with an overweight rating, as the stock is currently consolidating at $213 [2] - The company reported a net income of $349 million, or $3.25 per share, more than doubling from $171 million, or $1.59 year over year, with revenue increasing by 25% to $1.01 billion [2] - Analysts expect pricing upside in the second half of 2024 and early 2025, presenting a strong buying opportunity following recent selloffs [2][3] Group 2: Qualcomm (QCOM) - Qualcomm's price target was increased from $185 to $200, supported by a strong quarterly performance where EPS was $2.33, beating estimates by seven cents, and revenue reached $9.39 billion, up 11.3% year over year [4] - The company anticipates fourth-quarter earnings between $2.45 and $2.65 per share, with revenue expected between $9.5 billion and $10.3 billion [4] - Analysts predict that generative AI smartphone shipments could account for 70% of the market by 2028, which is favorable for Qualcomm [4][5] Group 3: Rivian (RIVN) - Rivian's price target was raised to $16 with an equal weight rating, bolstered by a $5 billion partnership with Volkswagen to develop next-generation electric architecture and software technology [6] - This partnership significantly extends Rivian's liquidity runway and mitigates investment risks, addressing concerns over the company's losses and cash burn [6] - Global electric vehicle sales are improving, with notable increases in sales from major automakers, indicating a positive trend for Rivian [7]