2024-07-16 13:42:00 ET
Summary
- First Solar is the largest US solar panel manufacturer with expanding capacity and benefits from the Inflation Reduction Act.
- Increased energy needs for AI present a significant opportunity for First Solar's technology advantage in sub-optimal conditions.
- The valuation of First Solar is based on discounted cash flows, with a potential upside scenario of $307 per share.
- Concerns about a repeal of the IRA are overblown.
Investment Thesis
First Solar, Inc. (FSLR) is an American Solar manufacturer headquartered in Tempe, Arizona, with research and development labs in Ohio and California and manufacturing facilities in Ohio, Alabama (expected 2024), Louisiana (expected 2025), Malaysia, Vietnam, and India....
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First Solar: Sunny Days Ahead