First Solar price target lowered to $285 from $300 at Truist

Truist lowered the firm’s price target on First Solar (FSLR) to $285 from $300 and keeps a Buy rating on the shares after its Q4 results. In an uncertain market backdrop, First Solar continues to execute well in ramping its U.S. manufacturing footprint, maintaining a sizable backlog, and in new product development, the analyst tells investors in a research note. It may yet take some time for policy-related overhangs to be addressed – depending on budget reconciliation bill timing – but the firm ultimately continues to see First Solar emerging in a position of strength, Truist adds.