Analysts’ target price
According to analysts’ estimates, First Solar (FSLR) stock offers a potential upside of 9% for the next 12 months. The stock has a mean target price of $70.3—compared to its current market price of $61.8.
Among top solar stocks, First Solar seems to be trading at a relatively cheaper valuation of 20x its forward earnings. SunPower and Sunrun are trading at high forward PE ratios.
Analysts have given Sunrun (RUN) a mean target price of $20.6—compared to its current market price of $18.3, which implies a potential upside of ~13%.
Analysts expect a steep fall of 26% in SunPower (SPWR) stock. They have given the stock a mean target price of $7.4. Currently, SunPower is trading at $10. Raymond James cut SunPower’s rating from “outperform” to “market perform” last week. Baird raised SunPower’s target price from $9.0 to $10.0 on June 19.
The above chart shows how analysts look at the top solar stocks. Three of the analysts seem cautious to negative compared to the other two. Among the 12 analysts tracking Sun Power, seven recommended a “hold,” three recommended a “sell,” and two recommended a “buy.”