Investing.com– Seaport Research Partners upgraded First Solar Inc (NASDAQ: ) from “Neutral” to “Buy,” citing its strong position in the solar and storage sectors amid challenging macroeconomic conditions.
Seaport analysts set a $274 price target on the stock, highlighting the company’s vertically integrated U.S. manufacturing base and potential benefits from expected tariffs on solar energy imports.
Seaport believes First Solar is well positioned to take advantage of potential changes in the Inflationary Reduction Act (IRA) that could encourage earlier bookings and strengthen its competitive advantage.
Solar and energy storage remain the most promising segments in the renewable energy space despite headwinds, including higher interest rates and uncertainty over climate policy under the incoming Republican administration, according to a research note.
Additionally, Seaport maintains a “Buy” rating on Array Technologies Inc (NASDAQ: ) with a $13 price target, citing upside potential. The company notes that if management is effective, Array shares could double from current levels.
On the other hand, Seaport lowered its target price by Fluence Energy Inc (NASDAQ: ) from $32 to $24, citing risks to the margin outlook. The company points to increased competition, weaker service add-ons and reduced pricing power as key issues. However, Seaport remains bullish on Fluence’s long-term prospects, maintaining a “Buy” rating despite the revised valuation
