Truist upgrades First Solar to Buy with a $270 price target
The brokerage raised its price target by $41 after shares dropped 32% year to date.
Truist Securities upgraded shares of 
First Solar to Buy on October 12, 2026. The brokerage raised its price target on the solar panel manufacturer by $41, lifting it from $229.00 to $270.00.
The new target implies a 51% upside compared with the stock's closing price of $177.82 on October 9, 2026. The upgrade follows a difficult stretch for First Solar, whose shares had declined 32% year to date in 2026.
Truist pointed to attractive valuation multiples, citing a price-to-earnings ratio of 10.99 and a price/earnings-to-growth ratio of 0.28. The firm also lifted its estimate for the average selling price of U.S. solar modules in 2029 by 17%.
Looking further out, Truist projected that U.S. utility-scale solar demand will average 44 GWdc annually between 2027 and 2035.
Share prices can rise and fall. Past performance does not guarantee future results. This article is news, not investment advice.
Newsletter
Markets in your inbox, weekly
LATAM-focused analysis, investing ideas, and the week in finance.
Keep reading
