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Opinions Tim Nash
First Solar Inc.FSLRCOMMENTJul 05, 2019
Tim NashStock price when the opinion was issued
As of Jun 18, 2026. Market Open.
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Premium contentWe reiterate this US domestic producer of solar panels as a TOP PICK. The company is benefitting from $700 million tax credit incentives, allowing cash reserves to continue to grow. It trades at 13x forward earnings and under 3x book value. We recommend trailing up the stop (from $129) to $140, looking to achieve $228 -- upside potential over 30%. Yield 0%
(Analysts’ price target is $228.24)
Premium contentRecently reported earnings for FSLR easily exceeded analyst expectations, thanks to a 27% increase in revenues. Total US solar installs are up 20% on the year and analysts expect a bigger year of growth ahead in the industry. FSLR trades at 12x forward earnings and under 3x book value. We recommend placing a stop-loss at $129, looking to achieve $234 -- upside potential of 46%. Yield 0%
(Analysts’ price target is $234.27)One of the few solar stocks that makes money. Have suffered from higher costs in raw materials and shipping, so reported a loss last year. This year, they are guiding for a high $7-8 EPS and $13 EPS in 2024. Trades at a cheap 12x 2024 PE. They sell to commercial customers much more than homeowners, so is less exposed to higher rates. Demand for products is high with orders through 2026. They make a superior product, using 98% fewer semi materials than their peers, therefore cheaper to produce. Shares have pulled back, so attractive.
Premium contentOur PAST TOP PICK with FSLR has triggered its stop at $180. To remain disciplined, we recommend covering the position at this time. Combined with the previous buy recommendations, this will result in a net investment gain of 31%.
Premium contentPremium contentWe reiterate this solar module manufacturer as a TOP PICK. As a US manufacturer, it is a major beneficiary of the Inflation Reduction Act tax incentives. It has a growing order backlog. We like that cash reserves are building while the company retires debt. We continue to recommend a stop-loss at $171, looking to achieve $224 -- upside potential of 21%. Yield 0%
(Analysts’ price target is $224.24)Premium contentOur PAST TOP PICK with FSLR has achieved its target at $214. To remain disciplined, we recommend covering half the position at this time and trailing up the stop to $171. When combined with our previous recommendation, this investment has a net investment gain of 52% so far.
Premium contentWe reiterate this international manufacturer of solar power panels. Although latest earnings did not meet analyst expectations, things are still solid. Sales back logs show they are sold out of product until into 2026 -- this will bring steady revenue. Cash reserves are growing and debt is being reduced. We recommend keeping the stop-loss at $168, looking to achieve $214 -- upside potential of 21% from here. Yield 0%
(Analysts’ price target is $214.15)Premium contentPremium contentPremium contentPremium contentPremium contentPremium content
