Deutsche Bank upgraded First Solar to Buy from Hold and raised its price target to $272 from $245, citing the stock's 27% decline since June 1 as an attractive entry point ahead of an expected stronger second half. Analyst Corinne Blanchard pointed to increased anti-China and favorable U.S. policies that add protectionism for First Solar, with momentum expected to build before Section 232 policy clarification in the coming weeks. First Solar remains a fundamentally strong U.S.-based panel producer with a solid balance sheet and $2.1 billion of net cash. Solar shares broadly pulled back on Tuesday as rising interest rates dampened rate-sensitive sectors, with SolarEdge Technologies down 6.4%, Sunrun down 5.2%, Array Technologies down 4.6%, Canadian Solar down 4.5%, and Enphase Energy down 3.1%.
First Solar IncDeutsche Bank upgraded First Solar to Buy and raised price target, citing attractive entry after decline and favorable policies.
Array Technologies Inc
Enphase Energy Inc
Sunrun Inc
SolarEdge Technologies Inc
Canadian Solar Inc