Before this week began, First Solar (FSLR 0.82%) stock had declined about 1.3% since the start of 2026. This week, however, shares of the solar stock are heading sharply in the other direction. With an analyst providing a bullish outlook for First Solar stock, investors have found sufficient cause to click the buy button.
According to data provided by S&P Global Market Intelligence, shares of First Solar are up 17.7% from the end of trading last Friday through the close of yesterday's market session.
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One analyst is forecasting bright days ahead for this solar stock
Upgrading First Solar stock to buy from hold on Wednesday, GLJ Research analyst Gordon Johnson raised his price target 52% to $315 from $207.82. According to Thefly.com, the company has reduced its risk through the launch of its Series 6 CuRe Copper Replacement program at its Ohio manufacturing campus.
NASDAQ: FSLR
Key Data Points
Based on First Solar's shares closing at $269.95 on Tuesday, Johnson's price target implies upside of 16.7%.
Is now the time to power your portfolio with First Solar stock?
Instead of placing too much emphasis on one analyst's price target, potential solar stock investors would be better served to evaluate the company's financials. With the company growing both revenue and free cash flow over the past couple of years, First Solar is in sound financial health. And while the current lack of enthusiasm in Washington D.C. may be a headwind for First Solar in the near-term, this certainly isn't a factor that suggests the sun has set on the company's potential growth in the long term.
