Morgan Stanley Upgrades First Solar (FSLR)
Fintel reports that on December 8, 2023, Morgan Stanley upgraded their outlook for First Solar (NASDAQ:FSLR) from Equal-Weight to Overweight .
Analyst Price Forecast Suggests 64.02% Upside
As of November 27, 2023, the average one-year price target for First Solar is 236.48. The forecasts range from a low of 159.14 to a high of $342.30. The average price target represents an increase of 64.02% from its latest reported closing price of 144.18.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for First Solar is 3,428MM, an increase of 8.40%. The projected annual non-GAAP EPS is 3.94.
What is the Fund Sentiment?
There are 1516 funds or institutions reporting positions in First Solar. This is an increase of 71 owner(s) or 4.91% in the last quarter. Average portfolio weight of all funds dedicated to FSLR is 0.33%, an increase of 3.54%. Total shares owned by institutions increased in the last three months by 6.79% to 105,867K shares. 
The put/call ratio of FSLR is 1.12, indicating a bearish outlook.
What are Other Shareholders Doing?
Jpmorgan Chase holds 6,821K shares representing 6.38% ownership of the company. In it's prior filing, the firm reported owning 6,466K shares, representing an increase of 5.22%. The firm decreased its portfolio allocation in FSLR by 8.94% over the last quarter.
SEEGX - JPMorgan Large Cap Growth Fund Class I holds 4,098K shares representing 3.84% ownership of the company. No change in the last quarter.
Invesco holds 3,233K shares representing 3.03% ownership of the company. In it's prior filing, the firm reported owning 3,341K shares, representing a decrease of 3.34%. The firm decreased its portfolio allocation in FSLR by 92.08% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 3,166K shares representing 2.96% ownership of the company. In it's prior filing, the firm reported owning 3,160K shares, representing an increase of 0.21%. The firm decreased its portfolio allocation in FSLR by 11.58% over the last quarter.
Capital Research Global Investors holds 2,943K shares representing 2.75% ownership of the company. In it's prior filing, the firm reported owning 1,371K shares, representing an increase of 53.42%. The firm increased its portfolio allocation in FSLR by 87.53% over the last quarter.
First Solar Background Information
(This description is provided by the company.)
First Solar is a leading global provider of comprehensive photovoltaic (PV) solar solutions, which use its advanced module and system technology. The company's integrated power plant solutions deliver an economically attractive alternative to fossil-fuel electricity generation today. From raw material sourcing through end-of-life module recycling, First Solar's renewable energy solutions protect and enhance the environment.
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This story originally appeared on Fintel.