First Solar price target raised to $262 from $240 at JPMorgan

JPMorgan raised the firm’s price target on First Solar to $262 from $240 and keeps an Overweight rating on the shares. Exiting the Q1 prints for clean energy, the firm is shuffling its top picks to stocks it believes are relatively best positioned to navigate what it expects to be a volatile remainder of the year. While JPMorgan continues to believe that utility-scale solar has the highest level of demand, it says macro factors are impacting project timing while increasing geopolitical developments present risks. The analyst removed Array Technologies (ARRY) and Shoals Technologies (SHLS) from the firm’s Analyst Focus List, believing increasing geopolitical issues and project timing uncertainty “may keep a lid on both stocks near term.” JPMorgan’s top picks are HASI (HASI) and TPI Composites (TPIC).