Research analysts at Brean Capital Initiated Coverage on First Solar, Inc (FSLR) with a Buy rating and set a price target of $83, suggesting 20 percent upside from current levels.

rating-changes

“Given the company’s solid balance sheet, increasing cash flow generation, strong growth potential, and ability to leverage its product platforms, we believe First Solar has many advantages over its peers. We regard the stock as a must-have for solar portfolios, and worth consideration for long-term investors who seek above-average growth and have the patience to navigate the potential ups and downs of a maturing market.” Brean Capital said in a note to clients

“We consider First Solar the premier market participant in the solar industry, given its breadth of vertical integration, financial strength, and ability to adapt to changing end-market conditions while continuing to innovate its product and service offerings.” it added

Shares of First Solar, Inc (FSLR) closed at $69.21 on Monday.