FSLR - First Solar: Too Much Growth Priced In

Summary

• First Solar has rallied hard off of the back of the Inflation Reduction Act and renewed investor sentiment towards the solar industry.
• First Solar has a strong strategic position as the primary US-based producer of solar panels and creates solar panels based on Cadmium Telluride technology instead of silicon-based technology.
• Despite the strengths of the company and government support, there is a limit to what investors should be willing to pay. There are very high expectations priced into the stock.
• We believe that First Solar needs to meet current expectations before investors can feel comfortable buying the stock.

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