On August 6, First Solar rose 5.35% in regular trading, trading at 249.02 USD/share, with turnover of $124 million. The stock extended its strong rebound following the Q2 earnings release.

On the news front, First Solar reported Q2 earnings per share of $3.92 on July 30, significantly beating the consensus estimate of $2.86 by 37%, representing a 23% year-over-year increase. First-half net income attributable to shareholders reached $769 million, up 39.5% year-over-year. Revenue came in at $1.056 billion, largely in line with expectations. The company maintained its full-year revenue guidance of $4.9 billion to $5.2 billion.

Multiple institutions have recently raised their price targets: Wells Fargo raised to $320, UBS raised to $330 maintaining a Buy rating, Guggenheim raised to $282 maintaining a Buy rating, and Barclays raised to $279 maintaining an Overweight rating. The average analyst rating remains Overweight with a mean price target of approximately $261.

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