Deutsche Bank's analyst Corinne Blanchard highlighted that First Solar's stock has declined by 24% since June 1, creating a buying opportunity ahead of a stronger second half of the year and anticipated clarifications on the S232 policy regarding polysilicon imports.
The bank increased its price target for First Solar from $245 to $272, indicating a nearly 17% upside from the stock's closing price on Monday. The U.S. investigation into polysilicon imports could lead to expanded access, which would support First Solar's growth. The market expects a decision in August, likely favoring a fixed tariff per watt instead of import quotas.
This outlook aligns with the consensus among analysts, with 25 out of 42 recommending a buy or strong buy for First Solar