The recent pullback in First Solar shares has created an attractive entry point, according to BMO Capital Markets.
Analyst Ameet Thakkar upgraded shares to outperform from market perform.
"FSLR stock has declined by an unwarranted degree following its recent Analyst Day in our view.
Underperformance has accelerated since the company's positive analyst day on Sept. 7, with the stock losing about 5% since.
BMO views First Solar as a winner under the Inflation Reduction Act, which it believes will help the company's earnings power.
Persons:
Ameet, Thakkar, Underperformance, — CNBC's Michael Bloom
Organizations:
BMO Capital Markets, BMO, U.S, PTC
Locations:
Wednesday's