BofA Hikes First Solar Target (FSLR) to $291, Eyeing a 2026 Stock-Picker's Cycle

First Solar Inc. (NASDAQ:FSLR) is one of the cheap stocks to buy for the next 3 years. On January 9, Bank of America raised the firm’s price target on First Solar to $291 from $255 and kept a Buy rating on the shares. Looking toward 2026, BofA described the upcoming period as a stock-picker’s cycle rather than a solar-beta cycle. This suggests that broad sector trends will no longer lift all boats; instead, success will depend on individual company performance.

A day before that, Guggenheim raised the firm’s price target on First Solar Inc. (NASDAQ:FSLR) to $312 from $289, while keeping a Buy rating on the shares. This sentiment was posted as the firm noted that the potential for significantly disruptive policy and trade developments should not be discounted, particularly regarding the possible implementation of Section 232 tariffs.

Additionally, on January 7, Jefferies downgraded First Solar from Buy to Hold while lowering its price target to $260 from $269. The firm expressed caution regarding the company’s 2026 outlook and cited limited booking visibility and emerging strategic questions. The firm noted that the anticipated Section 232 tariff tailwinds may underwhelm investor expectations due to potential carve-outs for Germany that could dilute pricing benefits, combined with developers moving ahead of duties.

First Solar Inc. (NASDAQ:FSLR) is a solar technology company that provides photovoltaic/PV solar energy solutions in the US, France, India, Chile, and internationally.

While we acknowledge the potential of FSLR as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.