Wells Fargo raised its price target for First Solar (FSLR) to $320 from $255. This adjustment represents a nearly 25.5% increase. The firm maintained its Overweight rating on the stock.
Analysts link the optimistic outlook to a potential Section 232 polysilicon tariff decision. Regulators are expected to announce this ruling by early August.
Wells Fargo updated its financial model to account for possible upside from the tariff decision. The move signals growing confidence in the manufacturer's market position as renewable energy demand increases.