First Solar Inc

Ørsted has begun construction on Blackwater Solar, a 200 MW solar farm in Roosevelt County, New Mexico, the company's first project in the state. The project, located between Portales and Clovis, will generate enough electricity to power the equivalent of more than 56,000 homes annually within the Southwest Power Pool territory and is backed by a long-term power purchase agreement to meet growing industrial electricity demand in New Mexico. Ørsted sourced the project's solar panels from domestic manufacturer First Solar, and Blackwater Solar is expected to reach commercial operations in late 2027. Alongside the project, Ørsted announced a $100,000 contribution to Playa Lakes Joint Venture to restore an 8.8 acre playa near Melrose, New Mexico, building on a previous partnership in West Texas that helped restore more than 700 acres of playa habitat across five counties. Blackwater Solar is also expected to contribute nearly $18 million in property tax revenue to Roosevelt County over its operating life.

Piper Sandler initiated coverage of First Solar on September 9 with an Overweight rating and a $260 price target, arguing the market is misreading the company as a policy-driven stock whose benefits expire when the 45X tax credit ends. The firm said First Solar has the lowest-cost, fully domestic, vertically integrated supply in a market facing limited domestic capacity, and its estimates are more conservative than consensus on volume but more optimistic on margins. By fiscal 2028, Piper Sandler expects gross margin of about 60%, above the 56% consensus estimate, and adjusted earnings per share of $28.46, above the $27.76 consensus estimate. For the second quarter of 2026, First Solar reported net sales of $1.06 billion, down 4% year-over-year on lower revenue from customer contract terminations, partly offset by higher module sales to third parties, while net income rose to $423 million, or $3.92 per diluted share, from $342 million, or $3.18 per diluted share, a year earlier, and adjusted EBITDA increased to $644 million from $560 million. Net cash stood at $1.7 billion as of June 30, 2026, down from $2.4 billion at December 31, 2025, on seasonal working-capital needs and capital spending mainly for its South Carolina finishing facility, and the shares were down approximately 22% year-to-date as of September 9.

Barclays analysts project that the global energy sector will require about $3.6 trillion in annual investment by 2027, driven by artificial intelligence, electrification, and energy-security concerns. This spending, spanning oil and gas, LNG, pipelines, power generation, grids, renewables, storage, and electrification, is expected to grow by more than 5% annually and exceed three times the capital needed for planned AI infrastructure. The bank describes an era of "energy addition," where demand for conventional and low-carbon energy rises simultaneously, with global energy demand growing at a 1.9% compound annual rate from 2025 to 2050. Data centers alone could add about 32 quadrillion BTUs of energy demand by 2040, equivalent to over 600 gigawatts and roughly matching Russia's 2025 consumption. Underinvestment has left upstream oil and gas capex about 45% below its peak, and over 2,500 GW of renewable and storage projects await grid connections, making grids and transmission networks major constraints. Barclays sees opportunities across upstream, oil services, LNG, pipelines, utilities, and clean tech, with 2028 earnings estimates for preferred stocks averaging 11% above consensus and price targets implying about 30% upside.

Washington's Section 232 solar tariffs, announced August 6, 2026, set a $0.38-per-watt minimum import price on finished modules and a 15% tariff on certain polysilicon derivatives, effective December 4, and while First Solar, Inc. shares fell about 36% from their high to near $204, the company is uniquely positioned to benefit. As the largest domestic module manufacturer using cadmium-telluride panels that contain no polysilicon, First Solar avoids the tariffs that hit importers, and BMO's Ameet Thakkar upgraded it to Outperform with a $263 target on August 26. The company reported second-quarter EPS of $3.92 against a $2.84 estimate, with gross margin near 57% and adjusted EBITDA of $644 million, and reaffirmed full-year shipments of 17–18.2 GW with a contracted backlog of 45.1 GW worth approximately $13.6 billion through 2030. Skeptics point to underutilized Malaysia and Vietnam plants carrying $115–$135 million in costs, a margin trough expected through 2027, and high short interest at 11.5% of the float, but the tariff-driven pricing advantage and backlog make it a contrarian play to accumulate into the trough.

Several stocks made notable premarket moves on Thursday. Riot Platforms surged nearly 20% after second-quarter revenue of $174.2 million exceeded the $154.3 million FactSet consensus, and the crypto miner announced a 191-megawatt data center lease deal with a Leading Frontier AI Lab. Hims & Hers Health fell 6% after trimming the upper end of its full-year EBITDA outlook and posting a net loss of 37 cents per share for Q2, versus a profit of 17 cents a year earlier. Intel edged lower after upsizing a common stock offering to $20 billion from $15 billion for general corporate purposes. Plug Power rallied 13% on a smaller-than-expected second-quarter loss, while First Solar gained more than 3% after Baird upgraded the stock to outperform and raised its price target to $318, citing a strong utility-scale market. Cardinal Health moved nearly 2% higher as adjusted earnings of $2.60 per share beat the $2.42 estimate, though revenue of $63.67 billion missed the $65.15 billion consensus, and full-year EPS guidance topped expectations.

New US tariffs on imported solar panels are seen as a major boost for First Solar, according to analysts at UBS and BNP Paribas. The trade policy sets a minimum import price of $0.38 a watt plus a 15% tariff, yielding an effective price of about $0.44 a watt, up from roughly $0.30 a watt for imported panels. UBS analyst Jon Windham maintained a Buy rating and $330 price target on First Solar, expecting the tariffs to support new bookings and higher average selling prices, while BNP Paribas analyst Moses Sutton raised the firm's First Solar price target to $402 from $281, calling the change a structural rise in terminal value. Both analysts see First Solar as the biggest beneficiary, though BNP Paribas trimmed longer-term US solar installation forecasts, cutting its 2028 estimate to 52 gigawatts from 55, its 2029 estimate to 55 gigawatts from 65, and its 2030 forecast to 43 gigawatts from 55. The analysts cited factors that could cushion the tariff impact, including a 120-day implementation delay expected to spur a rush of panel imports, an estimated 95 gigawatts of inventory entering 2027, and developers' ability to pass higher costs through power purchase agreements.

First Solar has publicly backed a new U.S. policy imposing 15% tariffs and minimum import prices on polysilicon imports, a move the company says supports domestic manufacturing investments and future production plans. The policy targets concerns over Chinese competition and supply chain risk for U.S. solar manufacturers. First Solar reaffirmed its 2026 volume and net sales guidance, indicating current policy settings are already factored into its operational plans. The company's stock traded at $250.05, with a 35.4% return over the past year and a 158.9% return over five years, though it has declined 8.9% so far in 2026.

Solar stocks surged after President Trump imposed new tariffs on imported solar products, including a 15% tariff and minimum import prices on polysilicon and downstream products such as wafers, cells and modules, effective December 4th. The clean energy heat map on Yahoo Finance's AlphaSpace platform showed broad gains, with Sunrun up 9.3%, Plug Power up 4.6%, First Solar up 3%, and Enphase Energy up 4.8%. First Solar was seen as a clear winner because it manufactures in the US and uses thin film technology, while SolarEdge was the only decliner, down 3.4%, due to its imports from China.

Several companies made significant premarket moves following their latest earnings reports. Atlassian shares jumped more than 29% after beating FactSet consensus on revenue and guidance for its fourth quarter, though its 13% year-over-year revenue growth forecast fell short of the 13.4% expectation. Wendy's dropped 2% as global sales declined more than 6%, driven by an 8.2% U.S. decline, and the company withdrew its 2026 financial outlook despite beating FactSet consensus on earnings, revenue, and adjusted EBITDA. Solar stocks rose after President Trump imposed tariffs on imported solar panel components, with First Solar up more than 5%, Invesco Solar ETF up nearly 3%, and SolarEdge Technologies up 2%. Airbnb surged nearly 7% after posting second-quarter earnings of $1.37 per share on revenue of $3.61 billion, exceeding LSEG estimates of $1.25 per share and $3.58 billion. Twilio soared more than 17% as it guided for adjusted earnings of $1.42 to $1.47 per share on revenue of $1.51 billion to $1.52 billion, above the $1.39 per share and $1.46 billion consensus, and raised its full-year revenue growth outlook to 18% to 18.5% from 14% to 15%, topping the 14.8% forecast. Trade Desk tumbled 27% after second-quarter adjusted earnings of 34 cents per share on revenue of $715 million missed LSEG estimates of 40 cents and $751 million. Cloudflare jumped more than 16.5% on strong guidance, expecting third-quarter adjusted earnings of 34 cents per share on revenue of $736 million to $737 million, compared with consensus of 32 cents and $722 million, and also beat second-quarter estimates. Akamai Technologies rose 8.3% after second-quarter adjusted earnings of $1.59 per share on revenue of $1.10 billion topped LSEG forecasts of $1.57 per share and $1.09 billion.

First Solar finished Monday as the top gainer on the S&P 500, surging 10.3% in an apparent delayed reaction to its second-quarter report that showed earnings easily beating analyst estimates while the company maintained guidance for full-year gross profit of $2.4 billion to $2.6 billion and revenue of $4.9 billion to $5.2 billion. Q2 net income rose to $422.6 million, or $3.92 per share, from $341.9 million, or $3.18 per share, in the year-earlier quarter, while revenue slipped 3.5% year-over-year to $1.06 billion, largely due to customer contract terminations, and cost of sales fell 24% to $451.2 million. The company ended the quarter with 45.1 gigawatts of contracted backlog extending through 2030. CEO Mark Widmar said on the earnings call that the company expects greater policy clarity from the coming Section 232 tariff decision to help inform the long-term operating profile for the roughly 1.8 gigawatts of fully finished international capacity that remains available, and noted increased customer engagement relative to the beginning of the year. Goldman Sachs analyst Brian Lee reiterated a Buy rating and $310 price target, while Guggenheim and Citi analysts also maintained Buy ratings and raised their price targets.

First Solar has issued third-quarter 2026 adjusted EBITDA guidance of $625 million to $775 million while awaiting clarity on the Section 232 polysilicon investigation. The company expects volumes sold between 3.9 gigawatts and 4.5 gigawatts for the third quarter. Full-year 2026 guidance remains unchanged, though the outlook now assumes a net tariff impact of $60 million to $80 million, incorporating an estimated $89 million net IEEPA tariff-related benefit in the second quarter and the assumption of Section 301 tariffs in the second half of the year. CEO Mark Widmar noted that the policy landscape continues to evolve, particularly around the pending Section 232 outcome and final FEOC regulations, and emphasized prioritizing pricing and contract quality over short-term bookings volume. CFO Alexander Bradley reported second-quarter net sales of approximately $1.06 billion, gross margin of approximately 57%, and net income of $423 million, while the contracted backlog stood at 45.1 gigawatts with an aggregate transaction value of $13.6 billion as of June 30, 2026.

Amazon shares jumped more than 9% in extended trading after the company reported better-than-expected second-quarter revenue and cloud growth, with its cloud segment revenue expanding 37% year over year, the fastest growth in 18 quarters. Apple shares fell more than 4% in volatile after-hours trading despite reporting stronger-than-expected fiscal third-quarter revenue driven by a 22% increase in iPhone sales. Coinbase slid more than 5% after posting a third straight quarterly loss of $359.5 million, or $1.36 per share, missing analyst estimates of a 17-cent loss, while revenue of $1.22 billion fell short of the $1.31 billion estimate. Rivian Automotive rose nearly 2% after reducing its 2026 spending plans and slightly narrowing forecasted losses this year, while reconfirming a delivery target of 65,000 to 70,000 vehicles. Reddit sank over 7% as CEO Steve Huffman described search-referral traffic from Google as choppy, even though the company beat second-quarter earnings estimates and issued guidance that sailed past expectations. First Solar gained more than 3% after reporting second-quarter earnings of $3.92 per share, beating the FactSet consensus estimate of $2.99, with revenue of $1.06 billion matching views.

The iShares Global Clean Energy ETF is recommended over the State Street Energy Select Sector SPDR ETF for investors who can tolerate near-term volatility, citing a macro trend toward renewable energy. The State Street fund, with $39.5 billion in assets under management, offers a 0.08% expense ratio and a 2.60% dividend yield, while the iShares fund, at $2.4 billion in assets, charges 0.39% and yields 1.00%. Over five years, the iShares fund experienced a maximum drawdown of 57.20% compared to 26.00% for the State Street fund, yet it has returned 13% in the past three months versus a 13% loss for the State Street fund. The iShares fund holds 105 globally diversified stocks across technology, utilities, and industrials, whereas the State Street fund concentrates on 21 U.S. oil and gas companies.

First Solar stock screens as undervalued on both discounted cash flow and earnings multiples, with a DCF model pointing to an intrinsic value of about $323 per share, roughly a 30.6% discount to the current market price. The model starts with trailing twelve-month free cash flow of about $1.0 billion and assumes continued growth before tapering. On a price-to-earnings basis, First Solar trades at about 14.4 times, well below the semiconductor industry average of 63.4 times and a tailored fair P/E estimate of around 35.9 times. Wells Fargo recently adjusted its price target on the stock, tied to expectations around U.S. tariff decisions that could support domestic solar suppliers. The analysis notes that policy risk and global solar market volatility remain key uncertainties that could affect whether the current discount is justified.

StockStory identifies First Solar and Zoetis as value stocks with promising prospects, while cautioning against Weatherford. First Solar, trading at $228.75 per share with a forward P/E of 11.7x, has seen 23.3% annual revenue growth over the last two years and a positive free cash flow profile. Zoetis, at $74.96 per share and a forward P/E of 10.8x, demonstrates 8.7% constant currency growth and a robust 21.3% free cash flow margin. In contrast, Weatherford, priced at $83.00 with a forward P/E of 14.7x, has experienced annual sales declines of 5.1% over the past decade and a below-peer gross margin of 31.7%.

First Solar is drawing renewed attention after several Wall Street firms highlighted the stock's recent pullback and potential benefits from upcoming U.S. tariff decisions on polysilicon and Chinese-related solar equipment. The stock has fallen 18.38% over the past 30 days but still shows a 37.61% total shareholder return over the last year. A widely followed narrative pegs First Solar's fair value at $243.59, slightly above the last close of $227.72, implying the stock is about 6.5% undervalued. That view rests on policy support, capacity build-out, and technology progress, with recent U.S. incentives and tighter restrictions against foreign entities of concern boosting the company's competitive moat and supporting higher long-term contracted pricing. However, any shift in tariffs or incentives, or a setback in thin-film technology, could quickly challenge that outlook.

Deutsche Bank upgraded First Solar to Buy from Hold and raised its price target to $272 from $245, citing the stock's 27% decline since June 1 as an attractive entry point ahead of an expected stronger second half. Analyst Corinne Blanchard pointed to increased anti-China and favorable U.S. policies that add protectionism for First Solar, with momentum expected to build before Section 232 policy clarification in the coming weeks. First Solar remains a fundamentally strong U.S.-based panel producer with a solid balance sheet and $2.1 billion of net cash. Solar shares broadly pulled back on Tuesday as rising interest rates dampened rate-sensitive sectors, with SolarEdge Technologies down 6.4%, Sunrun down 5.2%, Array Technologies down 4.6%, Canadian Solar down 4.5%, and Enphase Energy down 3.1%.

Wall Street analysts issued a flurry of ratings changes on Tuesday, July 7, 2026. Bank of America downgraded Adobe to Underperform from Buy with a $190 target, while Erste Group cut Broadcom to Hold from Buy. Meta Platforms was upgraded to Buy from Hold at Erste Group, and Shopify was reinstated with a Buy rating at Bank of America with a $150 target. Space Exploration Technologies, which recently completed a massive IPO and joins the Nasdaq-100 today, drew Buy initiations from Goldman Sachs at $205, UBS at $210, and Stifel at $190. Other notable moves include Cloudflare upgraded to Outperform at Scotiabank, First Solar raised to Buy at Deutsche Bank, and American Airlines downgraded to Hold at Melius Research.