Susquehanna Reaffirms First Solar Positive, Ups Price Target to $285

Susquehanna Reaffirms First Solar Positive, Ups Price Target to $285

In a recent report, Susquehanna reaffirmed its positive stance on First Solar (NASDAQ: FSLR) [1], maintaining the company's strong potential in the solar industry. The analyst team, recognizing the company's impressive growth prospects, raised their price target to $285 – a significant 37% increase from the current market price [2].

First Solar has been attracting attention from investors and analysts alike, thanks to its robust financial performance. According to recent reports, the company's average one-year price target is $228.72, with forecasts ranging from $159.14 to a high of $290.85 [1]. Susquehanna's revised price target suggests that the company's shares are undervalued based on this data.

The solar industry is expected to grow significantly in the coming years, driven by the increasing demand for renewable energy sources. First Solar, with its advanced technology and strong market position, is well-positioned to capitalize on this growth [3]. The company's projected annual revenue for 2023 is $3,428MM, an increase of 14.64% compared to the previous year [1].

Institutional investors have been actively purchasing shares in First Solar, further underscoring its potential. Notable shareholders include Ofi Invest Asset Management, Capital Research Global Investors, VTSMX - Vanguard Total Stock Market Index Fund Investor Shares, and Wellington Management Group Llp, among others [1]. These firms collectively own over 11% of the company's outstanding shares [1].

Despite the bullish outlook, the put/call ratio for First Solar is 1.29, indicating a slightly bearish sentiment among investors [1]. However, this should not be taken as a definitive indicator, given the strong fundamentals and positive analyst coverage of the company.

In conclusion, Susquehanna's decision to reaffirm its positive stance on First Solar and increase its price target to $285 is a testament to the company's strong growth prospects and potential in the solar industry. With its advanced technology and growing market presence, First Solar is well-positioned to capitalize on the shift towards renewable energy sources.

References:
[1] Fintel. (2023, July 28). Susquehanna maintains First Solar FSLR positive recommendation. Retrieved from https://www.fintel.io/nasdaq/FSLR/news/susquehanna-maintains-first-solar-fslr-positive-recommendation
[2] Nasdaq. (n.d.). First Solar, Inc. (FSLR) Stock Summary. Retrieved from https://www.nasdaq.com/symbol/fslr/stock-analysis
[3] First Solar. (n.d.). About First Solar. Retrieved from https://www.firstsolar.com/about