First Solar price target raised to $271 from $269 at Oppenheimer

Oppenheimer analyst Colin Rusch raised the firm’s price target on First Solar to $271 from $269 and keeps an Outperform rating on the shares. The firm notes First Solar delivered strong Q1 results and bookings, indicating pricing could potentially move higher as its trade case moves forward. With the company guiding to heavier seasonality on the potential acquisition of one of its customers, Oppenheimer is encouraged by how capably the company is managing delivery times, derisking revenue, and making incremental improvements on module throughput and conversion efficiency.