Based on the provided data, here's a concise analysis of FSLR's valuation:
Technical Analysis
FSLR is currently trading at $162.92, showing bearish momentum with a -3.24% decline in regular market hours . The RSI of 42.55 indicates neutral territory but leaning towards oversold conditions. The stock is trading below both its 20-day MA ($174.19) and 60-day MA ($185.28), suggesting a downward trend.
Valuation Metrics
The stock appears reasonably valued based on key metrics:
- Forward P/E: 21.48x (Q3 2024)
- EV/EBITDA: 15.10x
- P/S: 6.96x
- P/B: 3.52x
These multiples show FSLR trading at a discount to its historical averages, particularly with its forward P/E ratio.
Growth & Market Position
First Solar maintains strong market positioning with:
- Expected Q4 2024 EPS of $4.69, representing 44.31% YoY growth
- Projected revenue of $1.47 billion, indicating 26.91% YoY growth
- Substantial manufacturing expansion plans to reach 25 GW capacity by 2026
Analyst Sentiment
Recent analyst actions indicate positive outlook:
- B of A Securities: $236 PT (47.28% upside)
- Guggenheim: $335 PT (94.88% upside)
- Wells Fargo: $209 PT (9.35% upside)
Based on these factors, FSLR appears slightly undervalued at current levels. The company's strong growth prospects, expanding manufacturing capacity, and favorable analyst sentiment suggest long-term value, despite near-term technical weakness. The stock's current price represents an attractive entry point for long-term investors.