Analyst Jeff Osborne of TD Cowen maintained a Buy rating on First Solar (FSLR – Research Report), retaining the price target of $275.00.
Jeff Osborne has given his Buy rating due to a combination of factors that highlight First Solar’s potential for growth despite some challenges. The company’s CuRE launch is progressing as planned, and the average selling price in the backlog has remained stable, which is a positive indicator for future revenue. Additionally, First Solar’s contracted volume with adjusters could potentially add $0.7 billion in revenue if fully realized, and the new Louisiana facility is on schedule to start operations in the second half of 2025. Furthermore, the impact of warranty issues is less severe than initially anticipated, with estimated losses being within a manageable range.
However, Osborne acknowledges some challenges, such as the backend-loaded 2025 guidance and policy uncertainties that are affecting development timelines. There is also a scheduled reduction in production capacity in Vietnam and Malaysia, and higher costs are a concern. Despite these negatives, Osborne sees any weakness in the stock as a buying opportunity, given the company’s strategic initiatives and potential for long-term growth.
Osborne covers the Technology sector, focusing on stocks such as NEXTracker, Inc. Class A, Enphase Energy, and First Solar. According to TipRanks, Osborne has an average return of 1.5% and a 39.92% success rate on recommended stocks.
In another report released today, Citi also maintained a Buy rating on the stock with a $236.00 price target.