First Solar Soars 7.18% on Revenue Surge, Analyst Upgrades Amid Green Energy Push

The share price rose to its highest level so far this month, with an intraday gain of 7.18%.

First Solar’s stock surge reflects strong revenue growth and analyst optimism. Year-over-year revenue climbed 79.7% to $1.59 billion, driven by robust demand for its solar technology amid global energy transition initiatives. Despite missing earnings per share (EPS) estimates, the company’s market position and project pipeline have attracted multiple analyst upgrades. Seaport Global Securities raised its price target to $305 from $217, while Goldman Sachs and Deutsche Bank reaffirmed or increased their targets, citing First Solar’s innovation and scalable operations. A “Moderate Buy” consensus on MarketBeat.com underscores investor confidence, with 28 analysts assigning “Buy” or “Strong Buy” ratings.

Broader industry tailwinds, including government incentives like the U.S. Inflation Reduction Act, are fueling demand for solar infrastructure. First Solar’s thin-film technology and expansion into emerging markets position it to capitalize on this shift. However, risks such as policy changes and supply chain disruptions remain. Analysts highlight the company’s R&D investments and partnerships as key differentiators, though competition from Chinese manufacturers could pressure margins long-term. The stock’s recent performance aligns with a broader market rally in renewables, though short-term volatility persists amid macroeconomic uncertainties.