From Financial Modeling Prep: 2024-12-03 10:18:00

Piper Sandler analysts raised First Solar’s price target to $250 from $210, maintaining an Overweight rating. The Department of Commerce announced antidumping duties on solar panel imports from Southeast Asian countries, impacting over 70% of U.S. panel imports.

Antidumping rates exceeded expectations, with Vietnam and Thailand facing potentially retroactive rates. Jinko Vietnam could see cash deposit rates over 50%, benefiting First Solar’s pricing power.

The news is positive for First Solar, as elevated competitor pricing could boost booking volumes and pricing power in 2025. Uncertainties around the Inflation Reduction Act and potential project delays could further support First Solar’s market position.



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