First Solar (FSLR – Research Report), the Technology sector company, was revisited by a Wall Street analyst today. Analyst Mark Strouse from J.P. Morgan maintained a Buy rating on the stock and has a $268.00 price target.
Mark Strouse’s rating is based on several key factors that highlight First Solar’s strong market position and future growth prospects. Despite mixed fourth-quarter results, with earnings per share falling short of expectations, the company’s revenue aligned with consensus, indicating robust demand. The temporary gross margin challenges, primarily due to warehousing and logistics costs, are expected to be resolved, which supports a positive long-term outlook.
First Solar’s strategic advantage is further emphasized by its fully contracted US business through fiscal year 2026 and its leading domestic manufacturing position. The company is trading at a valuation below its historical average, making it an attractive investment opportunity. Additionally, the anticipated value from domestic manufacturing tax credits enhances its financial outlook, contributing to the Buy rating. Overall, Strouse views First Solar as well-positioned to outperform its peers in the solar sector over the next 6-12 months.
Strouse covers the Technology sector, focusing on stocks such as SolarEdge Technologies, Canadian Solar, and Enphase Energy. According to TipRanks, Strouse has an average return of 3.2% and a 42.56% success rate on recommended stocks.
In another report released today, Piper Sandler also maintained a Buy rating on the stock with a $230.00 price target.