FSLR - Why First Solar Stock Skyrocketed This Week
2024-05-24 17:18:10 ET
First Solar (NASDAQ: FSLR) stock is surging. The solar power specialist's share price ended the week up 40.1% from last Friday's market close, according to data from S&P Global Market Intelligence .
The price rose thanks to positive coverage from analysts and excitement about the company's opportunities to capitalize on the artificial intelligence (AI) revolution. The stock also gained ground on news that China's key regulatory agency for solar energy was in favor of easing downward pricing pressures created by intense competition.
First Solar stock hit a decade-long high this week thanks to news that China's most important solar regulatory agency was urging providers to shift away from pricing wars. The solar energy stock also received substantial price-target increases from analysts at UBS , Piper Sandler , and JPMorgan Chase .
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Why First Solar Stock Skyrocketed This Week