Jefferies downgraded the stock to ‘Hold’ from ‘Buy’ and cut its price target to $260 from $269.
- Jefferies flagged caution heading into 2026, citing ‘limited booking visibility.’
- Jefferies also warned that the Section 232 tailwind may fall short of investor expectations.
- The brokerage sees limited upside in the shares from current levels.
Shares of First Solar Inc (FSLR) fell 5% in pre-market trade on Wednesday after research firm Jefferies downgraded the stock and slashed its price target, citing “limited booking visibility.”
FSLR stock has been trending down lately, declining in six of the past seven sessions.
Jefferies Turns Cautious
The brokerage firm downgraded First Solar to ‘Hold’ from ‘Buy’ and reduced its price target to $260 from $269, according to TheFly. Jefferies flagged caution heading into 2026, citing ‘limited booking visibility’ and emerging strategic uncertainties.
Jefferies also warned that the Section 232 tailwind may fall short of investor expectations, with potential carve-outs for Germany pressuring pricing and developers accelerating projects ahead of duties. As a result, it sees limited upside for the stock from current levels.
Section 232 imposes tariffs on imported polysilicon components. Polysilicon, or raw polycrystalline silicon, is a high-purity form of silicon that is a critical input in solar photovoltaic manufacturing. It serves as the primary feedstock used to produce most of today’s solar cells.
Earlier, First Solar CEO Mark Widmar said the move validates the company’s roughly $4.5 billion strategy to expand U.S. manufacturing and reshore its supply chains.
FY2025 Outlook Trimmed
Along with its third-quarter results in November, the company issued full-year 2025 guidance, which includes a net sales outlook of $4.95 billion - $5.20 billion, compared to a prior range of $4.90 billion - $5.70 billion. Earnings per diluted share were revised to $14 - $15 from 13.50 to $16.50, while volume sold guidance was narrowed to 16.7 GW–17.4 GW from 16.7GW to 19.3GW.
In November, First Solar also inaugurated its $1.1 billion manufacturing facility in Iberia Parish, Louisiana. Once fully ramped, the plant will add 3.5 GW of annual capacity, lifting the company’s U.S. manufacturing footprint to 14 GW in 2026 and 17.7 GW in 2027.
How Did Stocktwits Users React?
Retail sentiment on Stocktwits remained in the ‘neutral’ zone over the past 24 hours.
FSLR stock has been in an uptrend since May 2025, but the rally stalled as it neared resistance around $285. Since November, shares have been range-bound between roughly $240 and $286.
Over the past year, the stock has gained over 40%.
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