2024-05-21 09:17:17 ET
Summary
- Cadmium Telluride module prices remain consistent despite worsening industry conditions.
- Despite another shipment delay, First Solar affirms its FY24 guidance. We’ve seen more positive marketing cost optimization and increased FY25-26 EBITDA forecasts.
- Updated US Policies against Chinese products flood are favorable for First Solar.
- Current valuation leaves an attractive upside, the rating is BUY.
Investment Thesis
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First Solar: Targets Confirmed, Updated U.S. Regulation Creates An Additional Momentum