First Solar (FSLR) Gains Momentum as Analysts Raise Target in Earnings Preview

First Solar's stock (FSLR) is building up a head of steam into next week's earnings, adding 24.41% over the past month of trading, and attracting price target raises from Wall Street.

Roth Capital increased its price target for First Solar to $225 from $200, reiterating a Buy rating in a Q2 earnings preview.

This upgrade is predicated on the expectation that First Solar will benefit significantly from the “One Big Beautiful Bill,” new anti-dumping and countervailing duties on solar products, and stricter enforcement of the Uyghur Forced Labor Prevention Act.

The stock's recent performance, and views from the street reflect a growing optimism, with a bounce of 50% off the YTD low. This positive momentum suggests that markets are gradually pricing in the anticipated benefits from the aforementioned tailwinds.

First Solar's technical indicators further support a bullish outlook. The stock is trading well above its 50-day moving average of $163.98 and its 200-day moving average of $153.50, signaling strong upward momentum.

Analysts anticipate continued growth, with a consensus estimate for full-year 2025 earnings of $13.05 per share. This expectation is further bolstered by Roth Capital's upgraded price target, indicating a potential upside of over 25% from the current share price.

JP Morgan ($208 from $200), BofA ($201 from $185), and Susquehanna ($203 from $186), have all hiked price targets on FSLR above $200 this week, as the expectations for earnings improve.

First Solar's last quarterly report, released on April 29th, showed an EPS of $1.95 and revenue of $844.57 million, up 6.4% year-over-year. While the EPS fell slightly below consensus estimates, the revenue growth demonstrates the company's ability to capitalize on increasing demand for solar energy solutions.

The upcoming report is expected to show EPS expanding further, to $2.62, with revenue topping $1billion, at $1.04billion. This would reflect a 2.7% sales growth, which is expected to expand to 20% over the full year.