Goldman Sachs reiterated its buy rating on First Solar shares. The company posted an earnings and revenue beat in the second quarter.
Goldman Sachs remains bullish on First Solar on the back of its second-quarter earnings and revenue beat. The company posted $1.59 earnings per share on $811 million in revenue, while analysts surveyed by Refinitiv had estimated 96 cents per share on revenue of $721 million. First Solar management also announced it would invest $1.1 billion for what would be its fifth solar panel factory in the U.S., expected to commission in the first half of 2026.
8% upside from where shares closed on Thursday. "Since the passage of the [Inflation Reduction Act], FSLR has cumulatively amended ~10GW of contracts to provide [average selling price] upside related to U.S. manufacturing, and we see more potential for ongoing pricing power leverage in future contracts/renegotiations," Lee said. The analyst believes the company's upcoming analyst day on September 7 will be another positive catalyst for the company.
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