BMO Capital Markets upgraded First Solar (FSLR) to Outperform from Market Perform. The firm established a new price target of $263.00.
Analysts believe the recent stock decline was an excessive reaction to Section 232 tariff developments. BMO expects the new tariff and minimum import price framework to create a favorable pricing environment.
The company can now book future volumes for 2029 and beyond at improved prices. BMO identifies First Solar as the least expensive solar OEM in its coverage universe based on 2029 estimates.