First Solar gains after Jefferies raises PT on strong bookings

First Solar

02/10/2025 10:26

** Shares of U.S.-based solar company First Solar FSLR.O rise 2.5% to $230.50 premarket

** Jefferies raises price target on FSLR to $260 from $212; implying a 15.6% upside to stock's last close

** Brokerage sees a solid setup for FSLR on the back of decent bookings in Q3

** FSLR U.S. capacity is booked through 2028 and the company is back in price discovery mode - Jefferies

** Brokerage expects finishing lines to be attractive for FSLR, but will still look for clarity on margin recovery and tariff impact long-term

** 35 of 40 brokerages rate the stock "buy" or higher, 4 "hold" and 1 "sell"; median PT is $215.50 - data compiled by LSEG

** Up till last close, stock up 27.6% YTD

 (Reporting by Pooja Menon in Bengaluru)

 ((Pooja.Menon@thomsonreuters.com;))