First Solar still has substantially room to run even after rallying about 80% over the past two months, with tailwinds from tariffs and data center demand on the horizon, according to Goldman Sachs.
Goldman raised its stock price target for First Solar by nearly $31 to $302 per share, implying 11% upside from Friday's close of $271.76.
First Solar is also party to a trade case that could result in the imposition of tariffs on solar module manufacturers from four Southeast Asian nations.
Goldman has estimated that power demand from data centers will more than double to 8% of total U.S. consumption by 2030.
Goldman sees First Solar's earnings per share increasing by about 20% in 2027 if the company adds a new plant.
Persons:
Goldman Sachs, Goldman, Brian Lee, Biden, FSLR TAN, Lee
Organizations:
Goldman, Amazon, Microsoft, Brookfield Asset Management, hasn't
Locations:
U.S, China, Indiana