Keep an eye on First Solar (FSLR).
After a devastating pullback, the solar stock is showing signs of life. All after Morgan Stanley upgraded the stock to overweight with a $237 price target. The firm pointed to four key catalysts for potential upside, including declining interest rates, deflation of core clean energy technologies, the election cycle, and earnings growth, as noted by CNBC.
“We believe First Solar offers one of the strongest risk-adjusted earnings profile with its sold out position through 2026, which when combined with its cost hedging should result in 17 pct pts of relatively low-risk margin expansion through 2026, before accounting for IRA benefits,” added the firm.
FSLR last traded at $148.75 in pre-market.