Morgan Stanley notes that shares of First Solar are down 12% since the first presidential debate and 27% from its peak, but the firm thinks perceived IRA repeal risks are “overblown” and that potential benefits from trade protection under a Republican president are “underappreciated.” The firm, which thinks a potential Trump administration “may more likely represent a positive than negative outcome” for First Solar, keeps an Overweight rating and $331 price target on the shares.
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