First Solar placed on ‘Positive Catalyst Watch’ into election at JPMorgan

JPMorgan added a “Positive Catalyst Watch” on shares of First Solar heading into the U.S. election. The firm keeps an Overweight rating on the shares with a $282 price target Election uncertainty skews Q3 clean energy stock reactions negative, though presents possible upside in November, the analyst tells investors in a research note. The firm would expect “largely status quo fundamental impact” for the space in any scenario other than a Republican sweep, meaning that the space could be set for a broad-based relief rally post-election. Even in a Republican sweep, the reality of potential outcomes could be more nuanced than general expectations, presenting potential buying opportunities after a likely knee-jerk negative reaction given Trump’s support of base tax credits during his first administration, contends JPMorgan.