First Solar (FSLR) has strong fundamentals and excellent growth potential. The company’s U.S.-based manufacturing supports millions of American jobs and benefits from a favorable renewable energy outlook.
Analysts remain optimistic about First Solar, with a consensus price target of $285+.
Elon Musk has emphasized the importance of solar, stating, “Solar power will be the vast majority of power generation in the future,” and highlighting achievements like solar generating over 80% of electricity in parts of Western Australia. With the growing global emphasis on renewable energy, FSLR is well-positioned to rise, potentially hitting $300+.
Additionally, Elon Musk's appointment to lead the Department of Government Efficiency could provide further support for clean energy initiatives.
- 🚀 **Strategic Growth Year**: 2023 marked as a foundational year for expansion. - 💰 **Revenue Growth**: Sales expected to jump to $4.4-4.6 billion in 2024. - 🏗️ **Capacity Expansion**: Heavy investment in increasing production facilities. - 🛡️ **Market Challenges**: Faced stiff competition and pricing pressures from Chinese firms. - 🌍 **Capacity Milestone**: Global production capability set to top 21 GW by year-end.
FSLR by bottom liner with GPT4 10/10 • First Solar’s stock rose by 5% following an updated positive outlook. • 2023 revenue is projected to be between $3.3 billion and $3.6 billion, with expected net income between $1.2 billion and $1.4 billion. • The expected average selling price for their Module series 6 is $0.29 per watt, with production costs around $0.25 per watt, leaving a healthy margin. • Guidance for 2024 predicts revenue to be in the range of $4.4 to $4.6 billion, with expected module shipments to be between 15.6 to 16.3 gigawatts. • The forward P/E ratio for First Solar is estimated to be around 10 times.
FSLR Hoping to see a continued run as we approach earnings. The stock may seem overvalued vs the competition, but FSLR has been improving margins, their revenue is forecasted to increase QoQ by 63% and YoY by 31%, and solar installations have still been rising steadily.
I'm bullish and hopeful, but only time will tell. Currently holding 160c 03/01 @ 3.50/avg. Tempted to take some profits, but I'm not that smart