Investigation Initiation: The U.S. International Trade Commission (ITC) has voted unanimously to investigate whether solar panel imports from India, Laos, and Indonesia are harming domestic manufacturing, a move that could lead to tariffs on these imports.
Domestic Manufacturers' Concerns: U.S. solar manufacturers argue that Chinese companies operating in these countries benefit from unfair government subsidies, allowing them to sell products below production costs in the U.S. This situation threatens billions of dollars in investments in American solar factories.
Impact of Imports
Surge in Imports: Imports of solar panels from India, Laos, and Indonesia skyrocketed to $1.6 billion in the previous year, a significant increase from $289 million in 2022. This surge is believed to be a result of imports shifting from countries already facing U.S. tariffs on solar exports.
Statements from Industry Leaders: Tim Brightbill, representing the Alliance for American Solar Manufacturing, emphasized that the ITC's decision validates claims that U.S. manufacturers are being harmed by unfairly traded imports, which are jeopardizing jobs and investments in the U.S. solar sector.
Next Steps in the Investigation
Ongoing Investigations: The U.S. Department of Commerce will continue its investigations into these imports, with preliminary determinations on countervailing duties expected around October 10 and on antidumping duties anticipated by December 24.
Wall Street analysts forecast FSLR stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for FSLR is 280.35 USD with a low forecast of 150.00 USD and a high forecast of 335.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
23 Analyst Rating
Wall Street analysts forecast FSLR stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for FSLR is 280.35 USD with a low forecast of 150.00 USD and a high forecast of 335.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
18 Buy
4 Hold
1 Sell
Moderate Buy
Current: 239.680
Low
150.00
Averages
280.35
High
335.00
Current: 239.680
Low
150.00
Averages
280.35
High
335.00
Citi
Strong Buy
to
Buy
downgrade
2026-01-22
New
Reason
Citi
Price Target
AI Analysis
2026-01-22
New
downgrade
Strong Buy
to
Buy
Reason
Citi replaced First Solar (FSLR) with Generac (GNRC) as the firm's top renewables pick heading into the Q4 reports. NuScale Power (SMR) is Citi's least preferred name. The firm expects Generac to beat estimates and upped its outlook amid "multiple positive catalysts," which include its datacenter backlog, quantifying capacity expansion and the winter storms. The analyst believes First Solar could guide below consensus estimates for 2026 due to lower volumes and higher costs.
BofA
Buy
downgrade
$291 -> $271
2026-01-22
New
Reason
BofA
Price Target
$291 -> $271
2026-01-22
New
downgrade
Buy
Reason
BofA lowered the firm's price target on First Solar to $271 from $291 and keeps a Buy rating on the shares as part of the firm's Q4 preview for its U.S. cleantech coverage.
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RBC Capital
Outperform
maintain
$244 -> $258
2026-01-20
New
Reason
RBC Capital
Price Target
$244 -> $258
2026-01-20
New
maintain
Outperform
Reason
RBC Capital raised the firm's price target on First Solar to $258 from $244 and keeps an Outperform rating on the shares as part of a broader research note previewing Q4 for U.S. Clean Energy. The firm continue to believe there is a lot to like given a strong macro backdrop, even though valuations remain higher than they have been in some time, supported by expectations for stronger bookings and optimistic demand commentary, the analyst tells investors in a research note.
BofA
NULL
to
Buy
maintain
$255 -> $291
2026-01-09
Reason
BofA
Price Target
$255 -> $291
2026-01-09
maintain
NULL
to
Buy
Reason
BofA raised the firm's price target on First Solar to $291 from $255 and keeps a Buy rating on the shares ahead of 2026, which the firm calls "a stock-picker's cycle, not a solar-beta cycle." The firm's top picks in U.S. Cleantech reflect execution, resilience and grid adjacency, the analyst tells investors.
About FSLR
First Solar, Inc. is a photovoltaic (PV) solar technology and manufacturing company. It is focused on enabling power generation needs with its advanced, thin film PV technology. The Company's primary segment is its modules business, which involves the design, manufacture, and sale of CdTe solar modules, which convert sunlight into electricity. Third-party customers of the segment include system developers, independent power producers, utilities, commercial and industrial companies, and other system owners and operators. The Company's products include the Series 7 Module and Series 6 Plus module. Its Series 6 Plus module is a glass laminate approximately 4ft x 6ft in size that encapsulates thin film PV semiconductor materials. Its Series 7 module has a larger form factor of approximately 4ft x 7ft in size. The Series 6 Plus and Series 7 modules had an average power output of 459 watts and 531 watts, respectively.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.