First Solar (NASDAQ:FSLR) stock is on the rise Friday after the solar panel company’s shares were covered by Jefferies analyst Dushyant Ailani.
The Jefferies analyst initiated coverage of FSLR stock with a “buy” rating. To put that in perspective, the analysts’ consensus rating for FSLR shares is a moderate buy based on 26 opinions.
The new coverage of FSLR stock comes with a price target of $211 per share. That represents a potential increase of 33.3% compared to its prior closing price. For comparison, the analysts’ consensus price prediction for FSLR is $232.96 per share.
What’s Behind the Bull Rating for FSLR Stock?
Here’s what Ailani said about First Solar in a note to clients obtained by CNBC:
“Solar is here to stay. Within our coverage, our top pick is FSLR ($211 PT) as it meets our key criteria including strong backlog (sold out through ’26), supportive pricing in a declining pricing environment, strong balance sheet, gross margins (ex-45X) ramping from 18% in ‘23 to 25% in ’25.”
FSLR stock is up 2.2% as of Friday morning and is up 10.8% since the start of the year. This comes with some 717,000 shares traded this morning. The company’s daily average trading volume is about 2.3 million shares.
Investors checking out all of the hottest stock market news this morning are in the right place!
We have all of the biggest stock market stories worth reading about on Friday! Among that is what’s going on with shares of Nio (NYSE:NIO), Mangoceuticals (NASDAQ:MGRX) and Aadi Bioscience (NASDAQ:AADI) stock. You can find out more on these matters at the following links!
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
