- First Solar (NASDAQ:FSLR) +2.5% premarket after Baird upgrades shares to Outperform from Neutral with a Street-high $82 price target, raised from $69, with the firm calling it the top pick within the solar sector.
- Analyst Ben Kallo note says Baird recently met with FSLR’s management and sees the company as well positioned for growth; Series 6 has some execution risk, but Baird sees shares appreciating near-term.
- Baird also boosts SunPower (NASDAQ:SPWR) to Outperform from Neutral with a $10 price target, hiked from $7, saying sentiment should improve as SPWR ramps P series production and strengthens its balance sheet; shares +5.5% premarket.
- The firm thinks potential headwinds from the Suniva petition mostly are priced in, and shares could benefit if no tariff is enacted or SPWR receives an exemption.
- Baird believes the solar market has hit an inflection point that will continue to see long-term growth driven by falling installation costs and technological advancement.
- ETFs: TAN, KWT
- Now read: Use Uncertainty To Buy SunPower's Bright Upside
Original article