SHLS - Solar Sector Analysis: Analysts Bullish On First Solar SolarEdge And Shoals Technologies | Benzinga
Mizuho Securities analysts Maheep Mandloi and David Benjamin initiated coverage on four solar power companies and announced price targets.
First Solar, Inc (NASDAQ: FSLR)- Initiated With Buy, $188 Price Target
The analyst writes that FSLR is sold out through 2026, with take-or-pay contracts that limit FSLR’s downside should module prices fall.
The analysts estimate that U.S. spot module prices will be 25-30c/watt in the next few years, despite cost-deflationary manufacturing tax credits, mainly due to undersupplied wafer and cell manufacturing in the U.S., which in turn are influenced by delays in Treasury guidance on the IRA.
Cost reductions and average selling price (ASP) adder opportunity in contracts should improve margins, analysts note.
SolarEdge Technologies, Inc (NASDAQ: SEDG)- Initiated With Buy, $108 Price Target
The analyst ...