#3 - First Solar (NASDAQ:FSLR)
Next on this list of solar stocks is First Solar (NASDAQ:FSLR). The company doesn’t install solar panels, but it’s involved in every other aspect of the process. The company manufactures solar panels, and it provides support and maintenance services for utility-scale photovoltaic (PV) power plants.
One of the bullish arguments for FSLR stock is that First Solar already has a manufacturing infrastructure. Established manufacturers stand to be a key benefactor of the $40 million that is earmarked in the Inflation Reduction Act. And for its part, First Solar has announced plans to increase its manufacturing footprint with the help of the money it receives from this legislation.
Plus, the company is showing a strong backlog of orders through 2024 and is projecting its sales to grow by an average of 27% over the next two years. That kind of growth, combined with the fact that the company doesn’t rely on any silicon from China, should be a catalyst for the stock to go higher.
About First Solar
First Solar, Inc, a solar technology company, provides photovoltaic (PV) solar energy solutions in the United States, France, Japan, Chile, and internationally. The company manufactures and sells PV solar modules with a thin film semiconductor technology that provides a lower-carbon alternative to conventional crystalline silicon PV solar modules.
Read More - Current Price
- $186.05
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 24 Buy Ratings, 3 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $279.04 (50.0% Upside)
