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11 mentions found


☆ This solar stock is poised for 50% upside as demand strengthens on data center surge, Goldman says
  + stars: | 2024-05-02 | by ( Spencer Kimball | ) www.cnbc.com   time to read: +2 min
First Solar is poised for growth as demand continues to improve with surging electricity consumption from data centers acting as a catalyst for the manufacturer, according to Goldman Sachs. The firm raised its stock price target to $268 after First Solar reported another stronger quarter, which suggests the shares could log 50% upside from Wednesday's close of $177.58. First Solar CEO Mark Widmar told analysts during the company's earnings call that he is seeing a "meaningful increase in demand expectations driven in part by data center load growth." Apple , Google, Meta , and Microsoft are committed to carbon-free energy as they hyperscale data centers, Widmar said. "We'll be ready to go as quickly as possible," Widmar told analysts.
Persons: Goldman Sachs, Brian Lee, Morgan, Mark Strouse, Strouse, Wall, Mark Widmar, Widmar, Alexander Bradley Organizations: First, Google, Microsoft
☆ First Solar CEO on Q1 earnings beat
  + stars: | 2024-05-02 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFirst Solar CEO on Q1 earnings beatFirst Solar CEO Mark Widmar joins 'Money Movers' to discuss the state of policy regarding the solar industry, what the excess inventory looks like, and how it's affecting price, and much more.
Persons: Mark Widmar
☆ Solar CEOs bet that Red State investments will protect them from threat of Trump repealing IRA
  + stars: | 2024-03-15 | by ( Spencer Kimball | ) www.cnbc.com   time to read: +9 min
First Solar , the largest panel manufacturer in the U.S., expects to receive about $1 billion in tax credits this year for making its products domestically. Eight of the top 10 congressional districts in terms of solar investments are represented by Republicans, according to the think tank. Enphase CEO Badri Kothandaraman is blunt that repealing the IRA tax provisions would hurt domestic manufacturing. Enphase makes inverters, a crucial component that converts solar energy harvested by panels into electricity that's usable in homes and in the power grid. Republicans appear less opposed to the wind and solar tax credits, Marcus said.
Persons: Biden, Trump's, Mark Widmar, Widmar, we've, who's, Badri Kothandaraman, Kothandaraman, Trump, Enphase, Tobin Marcus, Marcus, Wolfe, Dan Shugar, Shugar, John Berger, Berger Organizations: Republican, Financial Times, Republicans, House, First, CNBC, GOP, Center, American Progress, Wolfe Research, Senate, Trump, Investors, Detroit autoworkers, Department of Energy Locations: U.S, Arizona, Ohio, Louisiana, Alabama, Puerto Rico, Columbia , South Carolina, Arlington , Texas, Houston
☆ First Solar CEO says tariff exemptions threaten U.S. efforts to ramp up domestic solar manufacturing
  + stars: | 2024-03-05 | by ( Spencer Kimball | ) www.cnbc.com   time to read: +4 min
Megan Jelinger | ReutersA flood of foreign solar components threatens efforts to build a domestic manufacturing base in the U.S. to support the clean energy transition, according to First Solar CEO Mark Widmar. A common type of solar panel used in the U.S. is excluded from Section 201 tariffs designed to protect domestic solar manufacturing, and a moratorium on tariffs against solar components imported from several Southeast Asian nations is in place. Biden vetoed legislation last spring that would have imposed tariffs on solar components from Cambodia, Malaysia and Thailand. "What this is doing is it's not allowing these domestic companies to scale," Widmar said. The company has intentionally overbooked to provide a buffer against the volatility in the solar market, he said.
Persons: Megan Jelinger, Mark Widmar, Widmar, Biden, Trump, Joe Biden, wasn't Organizations: Reuters, Solar, CNBC, U.S . Commerce Department, Commerce Locations: Perrysburg , Ohio, U.S, Cambodia, Malaysia, Thailand, Vietnam
☆ First Solar CEO: Demand is still strong, we're well-positioned to address the market
  + stars: | 2024-03-04 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFirst Solar CEO: Demand is still strong, we're well-positioned to address the marketFirst Solar CEO Mark Widmar joins 'Money Movers' to discuss whether the solar and utility industry is at an inflection point, how long it'll take for First Solar to benefit from recent industrial policy moves, and more.
Persons: Mark Widmar
☆ First Solar jumps on strong quarter, record backlog in rare bright spot for beaten-down renewable sector
  + stars: | 2024-02-28 | by ( Spencer Kimball | ) www.cnbc.com   time to read: +3 min
First Solar shares jumped Wednesday after reporting another solid quarter, with the company booked solid through 2026 and an order backlog that stretches into the end of the decade. First Solar is one of the few companies that has weathered the sharp downturn in the solar sector. JPMorgan has a price target of $226 for the stock, implying about 56% upside from Tuesday's close. Goldman Sachs lowered its price target for First Solar to $265 from $275 prior despite the company's strong quarter. The investment bank said solar module oversupply and potential changes to U.S. tax credits are key risks for First Solar moving forward.
Persons: Morgan Stanley, Andrew Percoco, Mark Strouse, Corinne Blanchard, Blanchard, Alexander Bradley, Mark Widmar, Goldman Sachs Organizations: Solar, JPMorgan, Deutsche Bank, Deutsche Locations: Perrysburg , Ohio, India, Europe
☆ First Solar CEO: Reshoring is going extremely well
  + stars: | 2023-11-01 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFirst Solar CEO: Reshoring is going extremely wellFirst Solar CEO Mark Widmar joins 'Squawk on the Street' to discuss his read on solar companies, the efforts to reshore solar appliances and electric vehicles in the U.S., and more.
Persons: Reshoring, Mark Widmar Locations: U.S
☆ First Solar CEO: New facility plans driven by high demand and backlog
  + stars: | 2023-07-28 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFirst Solar CEO: New facility plans driven by high demand and backlogFirst Solar CEO Mark Widmar joins 'Squawk on the Street' to discuss the company's expansion plans, weak demand in other parts of the solar industry, and more.
Persons: Mark Widmar
☆ First Solar is trading at levels not seen in more than a decade. Here's where it could go next — and whether you should buy it
  + stars: | 2023-03-07 | by ( Hakyung Kim | ) www.cnbc.com   time to read: +3 min
Solar technology company First Solar has seen its shares skyrocket in the new year — and some think this is only the beginning. UBS analyst Jon Windham, who rates the stock as a buy, has a near-Street-high price target of $250 per share. Young has a buy rating on the stock and a price target of $210 per share. Meanwhile, Wealth Consulting's Worden noted that First Solar shares are already trading at a high valuation. Refinitiv data also shows that the average analyst price target on the stock is $187.99, which implies downside of about 12%.
☆ First Solar selects Alabama for new factory as Inflation Reduction Act prompts domestic manufacturing boom
  + stars: | 2022-11-16 | by ( Pippa Stevens | ) www.cnbc.com   time to read: +2 min
First Solar said Wednesday that it has selected Alabama as the site for its fourth U.S. solar panel manufacturing facility, after the Inflation Reduction Act and its incentives for domestic manufacturing encouraged companies to onshore production. First Solar CEO Mark Widmar previously told CNBC that the Inflation Reduction Act was the key catalyst that led First Solar to choose the U.S. for its latest factory. The U.S. solar industry now stands at around 126.1 GW, which is enough to power 22 million homes, according to the Solar Energy Industries Association. Shares of First Solar hit their highest level since April 2011 on Wednesday after the IRA reignited interest in renewable energy companies. Other solar companies, including SolarEdge and Enphase Energy , have said they are exploring manufacturing in the U.S. following the climate bill.
☆ Shares of First Solar have nearly doubled in 3 months, but Evercore ISI says there's more upside
  + stars: | 2022-09-29 | by ( Pippa Stevens | ) www.cnbc.com   time to read: +2 min
U.S. panel manufacturer First Solar is uniquely positioned to benefit from the recently passed Inflation Reduction Act, Evercore ISI said as it upgraded the stock to an outperform rating. Shares of First Solar have gained nearly 80% since July 27 when Senate Majority Leader Chuck Schumer, D-N.Y., and Sen. Joe Manchin, D-W.V, said they reached an agreement on a climate package. The firm added that given First Solar's domestic footprint the company could benefit from trade restrictions on Chinese solar modules. Evercore is not the only Wall Street firm to note the benefits for First Solar from the IRA. Shares of First Solar dipped more than 2% Thursday.
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