On Jan. 10, we noted that shares of First Solar (FSLR) could push higher.
At the time, FSLR traded around $160. Today, it’s up to $183.50 – and running.
For one, Goldman Sachs recently noted the Inflation Reduction Act (IRA) is one of the “most meaningful policy developments for the US solar and energy storage sector and clears the way for at least a decade-long runway for stable installation growth across all residential, commercial and utility-scale markets.”
Wells Fargo analysts just upgraded the stock to an overweight rating—also thanks to the IRA and stronger demand in Europe.
While FSLR may be overdue for a healthy pullback, any correction is likely to be short-lived. With the IRA, and plenty of bullish analysts, FSLR could easily see higher highs this year.