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First Solar (FSLR) is set to report Q3 results on October 30, with expected sales of $1.54 billion, a 74% increase from $887.67 million in the prior year. Earnings per share are projected to rise by 46% to $4.24.
The company’s U.S. production facilities are reportedly sold out through 2028, driven by favorable policy support from the Inflation Reduction Act, which has boosted demand for clean energy. FSLR’s stock has risen by 10% in October and is up nearly 40% year-to-date, recently hitting a 52-week high of $248.
Analysts have upgraded their price targets for FSLR to over $260, with Citigroup having the highest target at $300. FSLR currently trades at a 16X forward earnings multiple.
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