Jefferies Upgrades First Solar Stock (FSLR) Amid Bullish Solar Sector Outlook

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2025-06-12 15:44:02

Jefferies analyst Julien Dumoulin-Smith has upgraded First Solar (FSLR) to Buy from Hold, raising the price target to $192 from $157. The move reflects Optimism about higher average selling prices for solar panels in 2028 and beyond, with potential upside if new contracts reach $0.32-$0.33 per watt. First Solar stands to benefit from its premium positioning in the utility-scale solar market.

Meanwhile, Sunrun (RUN) was downgraded to Sell due to rising risks in residential solar. The Inflation Reduction Act remains a key driver for U.S.-based solar manufacturers, though Senate negotiations may phase out tax credits for companies reliant on certain foreign suppliers—a provision targeting Chinese imports.

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