First Solar Inc

FSLR: XNAS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$383.00	Zfm	Gdhxcjvv

First Solar: Taking a Closer Look at Key Variables and Maintaining Our $190 Fair Value Estimate

Brett Castelli

Sep 24, 2024

First Solar shares are up 45% year to date, roughly double the broad market's gain. We view the shares as overvalued, with our $190 fair value estimate trailing the PitchBook consensus average of $288. In this note, we summarize the key focus areas for First Solar investors over the medium term.

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