Investing.com – Seaport Research Partners updated First Solar Inc (NASDAQ:) from “Neutral” to “Buy,” citing its robust position in the utility-scale solar and storage sector amid challenging macroeconomic conditions.
Seaport analysts set a $274 price target on the stock, emphasizing the company’s vertically integrated U.S. manufacturing base and potential benefits from anticipated tariffs on solar imports.
Seaport sees First Solar as well-positioned to capitalize on potential changes in the Inflationary Reduction Act (IRA) that could incentivize earlier bookings and strengthen its competitive advantage.
According to the research note, utility-scale solar and storage remain the most promising segments in the renewable energy space despite headwinds, including higher interest rates and uncertainty surrounding climate policy under the incoming Republican administration.
Additionally, Seaport maintains a “Buy” rating for Array Technologies Inc (NASDAQ: ) with a target price of $13, citing turnaround potential. The firm notes that if management executes effectively, Array’s stock could double from its current level.
On the contrary, Seaport has lowered its price target for Fluence Energy Inc (NASDAQ: ) from $32 to $24, citing risks to its margin outlook. The firm points to increased competition, weaker service delivery and reduced pricing power as key concerns. However, Seaport remains bullish on Fluence’s long-term prospects, maintaining a ‘Buy’ rating despite the revised rating.
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2025-01-16 04:50:00
