FSLR - First Solar Bookings Were 'Subdued' In Q4: 9 Analysts Examine Earnings Outlook | Benzinga
Shares of First Solar Inc (NASDAQ: FSLR) were climbing in early trading on Wednesday, after the company reported higher-than-expected earnings for the fourth quarter.
The results came amid an exciting earnings season. Here are some key analyst takeaways from the release.
- Morgan Stanley analyst Andrew Percoco maintained an Overweight rating, while raising the price target from $237 to $245.
- Goldman Sachs analyst Brian Lee reiterated a Buy rating, while lifting the price target from $265 to $275.
- Mizuho Securities analyst Maheep Mandloi reaffirmed a Buy rating and price target of $196.
- BMO Capital Markets analyst Ameet Thakkar maintained an Outperform rating and price target of $194.
- Piper Sandler analyst Kashy Harrison reiterated an Overweight rating and price target of $195.
- RBC Capital Markets analyst Christopher Dendrinos reaffirmed an Outperform rating and price target of $195.
- Roth Capital Partners analyst Philip Shen maintained a Buy rating and price target of $230.
- Oppenheimer analyst Colin Rusch reiterated an Outperform rating and price target of $269.
- KeyBanc Capital Markets analyst Sophie Karp reaffirmed a Sector Weight rating on the stock.
Check out other analyst stock ratings.
Morgan Stanley: First Solar reported its fourth-quarter results and 2024 guidance broadly in-line with expectations, Percoco said in a note. "Improved pricing on incremental bookings should refute concerns around ASP compression,” he added.
"With 80 GW of contracted backlog (sold out through 2026 with contracts extending 2030), bookings will likely slow, but pricing should remain stable,” the analyst further wrote.
Goldman Sachs: Although First Solar’s bookings declined sequentially, this was mainly ...