First Solar Inc

FSLR: XNAS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$827.00	Czjmm	Kqnvwrp

First Solar Earnings: Strong Pricing on New Bookings, but Watch Industry Capacity Expansion

Brett Castelli

Apr 28, 2023

We maintain our $174 fair value estimate for no-moat First Solar following the company's first-quarter earnings release. The shares were trading 13% lower at the time of writing, which we view as attributable to high expectations (the stock is up 178% over the past year). We see the shares as fairly valued following the pullback.

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