Deutsche Bank upgrades First Solar to buy, raises target to $272

According to CNBC, Deutsche Bank upgraded First Solar to buy from hold and raised its price target to $272 from $245, implying nearly 17% upside from Monday’s close. Analyst Corinne Blanchard said the recent pullback creates an entry point ahead of a stronger second half and expected clarifications in the coming weeks on the Section 232 U.S. investigation into polysilicon imports; she added a decision is expected in August. First Solar shares have fallen 24% since June 1 as investors await the investigation outcome, and Blanchard said wider access to polysilicon imports could help the company scale and support the stock. She also said the market expects the U.S. will impose a fixed tariff per watt rather than quotas, and noted that 25 of 42 analysts rate the stock buy or strong buy, according to LSEG data.