Last year was particularly gloomy for solar stocks due to weak revenue growth, falling demand, and policy uncertainties. Despite a subdued performance in 2018, First Solar (FSLR) kept its earnings guidance intact for 2019. Wall Street analysts expect strong revenues and earnings growth due to increased demand in 2019.
Based on analysts’ estimates, First Solar stock offers a potential upside of ~8% for the next 12 months—compared to its current market price of $60.77. The stock has a median target price of $65.41.
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Among the 15 analysts tracking First Solar, six recommended a “buy,” six recommended a “hold,” and three recommended a “strong buy.” None of the analysts recommended a “sell.”
Peers’ target prices
SunPower (SPWR) stock has an estimated downside of more than 13% compared to analysts’ target price of $6.74. Currently, SunPower is trading at $7.80. J.P. Morgan gave SunPower a “neutral” rating on April 11 with a target price of $7.50 for the next 12 months.
Sunrun (RUN) stock offers an estimated upside of 17.2% based on analysts’ target price of $18.56. Currently, Sunrun is trading at $15.84.