Truist Upgrades First Solar to Buy with Higher Price Target
First Solar (FSLR) received an upgrade from Truist Securities, which raised its rating to 'Buy' from 'Hold.' The firm also increased the price target for the solar energy company to $270 from $229. This move follows expectations of a stronger pricing and demand environment through the 2030s. The upgrade reflects growing confidence in First Solar's market position amid favorable industry trends, including increasing renewable energy adoption and supportive policy frameworks. The stock rose by 1.5% on Monday following the announcement. Truist highlighted long-term tailwinds for solar companies as governments worldwide push toward decarbonization goals.
Tickers: $FSLR
Topics: Alternative Energy Equity Research