Aug. 3 at 8:16 PM
First Solar surged in afternoon trading after multiple analysts raised their price targets following the company's stronger-than-expected Q2 2026 results. Guggenheim lifted its target to
$282 from
$279 while maintaining a Buy rating after First Solar reported EPS of
$3.92, more than
$1 above consensus, and 24% year-over-year net income growth to approximately
$423 million.
Bullish sentiment was reinforced as Citi increased its price target to
$297, Barclays reiterated its Buy rating, and Freedom Broker raised its target to
$280. The company also highlighted a 45.1 GW contracted backlog valued at
$13.6 billion through 2030, providing strong long-term revenue visibility. Jefferies, however, maintained a Hold rating with a
$196 target, citing uncertainty surrounding Section 232 tariff exemptions for domestic supply-chain partners.
The rally was further supported by a favorable risk-on market, with the Nasdaq and S&P 500 posting strong gains.
$FSLR