Fintel reports that on September 6, 2023, Morgan Stanley upgraded their outlook for First Solar (NASDAQ:FSLR) from Underweight to Equal-Weight.

Analyst Price Forecast Suggests 36.62% Upside

As of August 31, 2023, the average one-year price target for First Solar is 248.78. The forecasts range from a low of 159.14 to a high of $348.60. The average price target represents an increase of 36.62% from its latest reported closing price of 182.09.

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The projected annual revenue for First Solar is 3,428MM, an increase of 14.64%. The projected annual non-GAAP EPS is 3.94.

What is the Fund Sentiment?

There are 1444 funds or institutions reporting positions in First Solar. This is a decrease of 33 owner(s) or 2.23% in the last quarter. Average portfolio weight of all funds dedicated to FSLR is 0.32%, a decrease of 11.26%. Total shares owned by institutions increased in the last three months by 0.35% to 99,139K shares. The put/call ratio of FSLR is 1.13, indicating a bearish outlook.

What are Other Shareholders Doing?

Jpmorgan Chase holds 6,466K shares representing 6.05% ownership of the company. In it’s prior filing, the firm reported owning 1,025K shares, representing an increase of 84.14%. The firm increased its portfolio allocation in FSLR by 3,815.11% over the last quarter.

SEEGX – JPMorgan Large Cap Growth Fund Class I holds 4,098K shares representing 3.84% ownership of the company.

Invesco holds 3,341K shares representing 3.13% ownership of the company. In it’s prior filing, the firm reported owning 2,885K shares, representing an increase of 13.66%. The firm increased its portfolio allocation in FSLR by 927.67% over the last quarter.

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 3,160K shares representing 2.96% ownership of the company. In it’s prior filing, the firm reported owning 3,133K shares, representing an increase of 0.84%. The firm decreased its portfolio allocation in FSLR by 18.68% over the last quarter.

VFINX – Vanguard 500 Index Fund Investor Shares holds 2,365K shares representing 2.21% ownership of the company. In it’s prior filing, the firm reported owning 2,313K shares, representing an increase of 2.19%. The firm decreased its portfolio allocation in FSLR by 19.07% over the last quarter.

First Solar Background Information
(This description is provided by the company.)

First Solar is a leading global provider of comprehensive photovoltaic (PV) solar solutions, which use its advanced module and system technology. The company’s integrated power plant solutions deliver an economically attractive alternative to fossil-fuel electricity generation today. From raw material sourcing through end-of-life module recycling, First Solar’s renewable energy solutions protect and enhance the environment.

This article originally appeared on Fintel

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