First Solar's 2025 Net Sales Guidance Shines, Says Analyst

First Solar, Inc. FSLR reported mixed fourth-quarter results on Tuesday, but Truist Securities analyst Jordan Levy highlighted the company's topline guidance as the most important factor in the report. 

Expert Ideas: First Solar issued fiscal 2025 net sales guidance of $5.3 billion to $5.8 billion, versus Truist's estimate of $5.55 billion. The guidance was particularly positive in light of prior concerns around project delays, Levy said. 

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The company shipped 5.1 GW of panels in the quarter, which was in line with Truist's expectations, and reported a backlog of 68.5 GW through 2030. 

First Solar CEO Mark Widmar addressed both figures in the earnings press release. 

"Even as we maintained a highly selective approach to bookings, we expanded manufacturing capacity by commissioning our Alabama facility and progressed construction of our new Louisiana facility, established the infrastructure we anticipate will accelerate innovation with a new R&D center in Ohio, and produced and shipped a historic volume of modules," Widmar added.

The Truist analyst also highlighted two separate press releases from the company. The first announced that First Solar has initiated legal action against JinkoSolar for alleged infringement of its TOPCon technology patents. The other announced a licensing deal with Talon PV, which will utilize First Solar's TOPCon technology at its U.S. manufacturing facility.

Levy maintained First Solar stock with a Buy rating, but lowered the price target from $300 to $285. 

Other analysts updated coverage on First Solar following the print, including: 

• Citigroup analyst Vikram Bagri maintained First Solar shares with a Neutral and lowered the price target from $254 to $236.
• RBC Capital analyst Christopher Dendrinos maintained an Outperform rating on the stock and lowered the price target from $280 to $251.
• JP Morgan analyst Mark Strouse maintained an Overweight rating and lowered the price target from $282 to $268.
• BMO Capital analyst Ameet Thakkar reiterated First Solar with an Outperform and lowered the price target from $260 to $230.

FLSR Price Action: According to Benzinga Pro, First Solar shares are up 8.4% at $159.95 at the time of publication Wednesday. 

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