First Solar up 8%, SolarEdge Technologies up 2.4%; iShares Solar ETF up 1.4%

First Solar (FSLR) shares rose 8% on Tuesday, outpacing gains in the broader solar sector. The stock's performance followed recent developments, including a price target increase to $297 from $294 at Citi and a reaffirmation of its FY26 revenue guidance, which remains in the range of $4.9B to $5.2B. The company also reported record Q2 sales and a gross margin of 45.1 GW backlog extending through 2030 [7]. However, First Solar faces ongoing legal challenges, with a class-action lawsuit alleging misrepresentations about production underutilization and onshoring costs, with lead plaintiff deadline set for August 24, 2026.

SolarEdge Technologies also saw gains, rising 2.4%, reflecting continued investor interest in the solar technology space. Meanwhile, the iShares Global Clean Energy ETF (ICLN), which includes First Solar among its holdings, rose 1.4%, tracking broader momentum in clean energy equities. The solar industry, as a whole, has shown mixed performance in recent quarters, with Q1 2026 installations declining 27% year-over-year, though the sector remains a dominant force in new electricity generation capacity. Analysts remain divided on First Solar, with price targets ranging from $196 to $297, reflecting uncertainty around trade policies and production challenges.