Goldman Sachs reiterated its Buy rating and $272.00 price target on First Solar (NASDAQ:FSLR), noting it is bullish on the company due to upcoming catalysts in H2/23 that could boost Street estimates and the stock price.
Based on their research, the analysts said that it appears that there are increasingly active conversations about expanding manufacturing capacity, possibly in the Southeastern United States. This development has the potential to be a significant catalyst leading into the second quarter earnings. Additionally, their discussions with the supply chain indicate that bookings in the US utility-scale sector have shown signs of improvement. This improvement can be attributed to the Treasury’s updated guidance regarding domestic content rules in the Inflation Reduction Act.