First Solar stock (US3364331070): Argus raises price target to $275 after Q1 beat

Argus upgraded First Solar's price target by $25 on May 13, citing strong first-quarter earnings that beat expectations. The stock traded near $239 as mixed analyst sentiment persists.

First Solar reported first-quarter 2026 earnings that exceeded analyst expectations, with earnings per share of $3.22 versus estimates of $2.87 and revenue of $1.04 billion, according to MarketBeat as of May 13, 2026. The photovoltaic solar module manufacturer's strong quarterly performance prompted Argus to raise its price target from $250 to $275, implying approximately 15% upside from current levels.

The stock traded at $238.76 on May 13, 2026, according to MarketBeat. First Solar's market capitalization stands at $25.65 billion, with a price-to-earnings ratio of 15.52 and a debt-to-equity ratio of 0.02, reflecting a conservative balance sheet. The company maintains a current ratio of 2.56 and quick ratio of 2.15, indicating solid short-term liquidity.

As of: May 14, 2026

By the editorial team – specialized in equity coverage.

At a glance

• Name: First Solar Inc.
• Sector/industry: Renewable Energy Equipment & Services
• Headquarters/country: United States
• Core markets: United States (95.7% of sales), India (3.7%), France (0.1%)
• Key revenue drivers: Photovoltaic solar module design, manufacturing, and marketing
• Home exchange/listing venue: NASDAQ (FSLR)
• Trading currency: USD
• Employees: 7,900

First Solar: core business model

First Solar specializes in the design, manufacturing, and marketing of photovoltaic solar modules. The company operates primarily in the United States, which accounts for 95.7% of net sales, with additional exposure to India and France. As a major player in renewable energy equipment, First Solar serves a market driven by global demand for clean energy solutions and US government incentives supporting solar deployment.

Main revenue and product drivers for First Solar

The company's revenue is generated through the production and sale of photovoltaic solar modules used in utility-scale and distributed solar installations. First Solar's Q1 2026 revenue of $1.04 billion reflects strong demand in its core US market, where federal tax credits and state-level renewable energy mandates continue to support solar adoption. The company's ability to exceed earnings expectations signals operational efficiency and favorable market conditions for solar equipment manufacturers.

Analyst views remain mixed despite Argus upgrade

While Argus maintained a buy rating alongside its price target increase, analyst sentiment on First Solar remains divided. The consensus rating on MarketBeat is a Moderate Buy with an average price target of $247.03. Recent analyst actions include GLJ Research downgrading the stock from buy to hold with a target of $207.82 on March 4, and Susquehanna lowering its price target from $280 to $250 on April 9. Barclays reduced its price objective from $228 to $213 on April 20, though it maintained an overweight rating. DZ Bank assigned a strong sell rating on February 26.

Conclusion

First Solar's first-quarter 2026 earnings beat and Argus's price target increase reflect positive momentum in the solar equipment sector. However, the divergence in analyst ratings—ranging from strong sell to buy—underscores the complexity of valuing renewable energy companies amid changing policy environments and market dynamics. US investors should monitor upcoming guidance updates and industry trends to assess whether the company can sustain its earnings growth trajectory.

Disclaimer: This article does not constitute investment advice. Stocks are volatile financial instruments.