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First Solar, Inc. (NASDAQ:FSLR) shares are pushing higher Wednesday as solar stocks climb following Tuesday night's debate between Vice President Kamala Harris and Donald Trump.
The Details:
First Solar shares are climbing Wednesday as investors react to Vice President Harris’s Tuesday's debate against Republican nominee Donald Trump.
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Harris emphasized her support for alternative energy sources during the debate. Coco Zhang, an ESG research analyst at ING Group, highlighted Harris's track record of promoting clean energy development, including her support for a carbon tax and a ban on fracking.
“My position is that we have got to invest in diverse sources of energy so we reduce our reliance on foreign oil,” Harris said during the debate.
The Invesco Solar ETF (NYSE:TAN) is climbing higher Wednesday, boosted by gains from SolarEdge Technologies, Inc. (NASDAQ:SEDG) and Sunrun, Inc. (NASDAQ:RUN) as investors see a Harris win as more likely following the debate.
When trying to assess whether or not First Solar will trade higher from current levels, it's a good idea to take a look at analyst forecasts.
Wall Street analysts have an average 12-month price target of $299.64 on First Solar. The Street high target is currently at $360 and the Street low target is $250. Of all the analysts covering First Solar, 11 have positive ratings, no one has neutral ratings and no one has negative ratings.
In the last month, one analyst has adjusted price targets. Here's a look at recent price target changes [Analyst Ratings]. Benzinga also tracks Wall Street's most accurate analysts. Check out how analysts covering First Solar have performed in recent history.
Stocks don't move in a straight line. The average stock market return is approximately 10% per year. First Solar is 36.26% up year-to-date. The average analyst price target suggests the stock could have further upside ahead.
For a broad overview of everything you need to know about First Solar, visit here. If you want to go above and beyond, there's no better tool to help you do just that than Benzinga Pro. Start your free trial today.
FSLR Price Action: According to Benzinga Pro, First Solar shares are up 11.4% at $232 at the time of publication Wednesday.
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