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First Solar Inc FSLR

Rating as of

Morningstar’s Analysis

Valuation
Currency in USD
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1-Star Price

PREMIUM

5-Star Price

PREMIUM

Economic Moat

PREMIUM

Capital Allocation

PREMIUM

Transferring Coverage of First Solar; Maintain No-Moat, Moat Trend to Positive; FVE to $79 From $77

Brett Castelli Equity Analyst

Analyst Note

| Brett Castelli |

We are transferring coverage of First Solar, maintaining our no-moat rating and raising our moat trend to positive from stable. We also update our fair value estimate to $79 from $77, implying 16% downside to the current share price.

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Company Profile

Business Description

First Solar designs and manufactures solar photovoltaic panels, modules, and systems for use in utility-scale development projects. The company's solar modules use cadmium telluride to convert sunlight into electricity. This is commonly called thin-film technology. First Solar is the world’s largest thin-film solar module manufacturer. It has production lines in Vietnam, Malaysia, and Ohio. It plans to add a large factory in India.

Contact
350 West Washington Street, Suite 600
Tempe, AZ, 85281
T +1 602 414-9300
Sector Technology
Industry Solar
Most Recent Earnings Jun 30, 2021
Fiscal Year End Dec 31, 2021
Stock Type Slow Growth
Employees 5,100

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