Overview

• The House Ways and Means Committee confirmed the extension of solar and wind tax credits through 2028, with a gradual phase-down to 2032, boosting investor confidence in renewable energy firms.
• First Solar's stock jumped 22.66% in a single day, closing at $191.60, and has achieved a 9% year-to-date increase, significantly outperforming the S&P 500.
• Wolfe Research upgraded First Solar to an 'outperform' rating with a price target of $221, reflecting a 15% potential upside from its current trading levels.
• Despite missing Q1 earnings expectations, the company reported a gross margin increase to 41% and sustained strong annual revenue growth of 26.7%, highlighting robust operational performance.
• First Solar's competitive edge is bolstered by its proprietary cadmium telluride thin-film technology, integrated supply chain, and solid balance sheet with low debt and significant cash reserves.