12 Best Electrical Infrastructure Stocks to Buy According to Analysts

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1. First Solar, Inc. (NASDAQ:FSLR)

Average Analyst Upside: 47.33%

Number of Hedge Fund Holders: 59

First Solar, Inc. (NASDAQ:FSLR) is a leading force in the renewable energy sector, specializing in utility-scale solar power plants. The company has delivered numerous large-scale photovoltaic (PV) installations globally, contributing significantly to the adoption of solar energy. With an installed generation capacity of approximately 25 gigawatts and a growing project backlog, First Solar is well-positioned to expand its market share.

On December 12, Truist Securities reaffirmed its Buy rating on First Solar, Inc. (NASDAQ:FSLR) and maintained a $300 price target, highlighting the company’s robust growth outlook. This follows First Solar’s announcement of a Tax Credits Sale agreement with Visa Inc., under which the energy company will transfer $645 million in tax credits to Visa for $616 million—a purchase price of $0.955 per dollar. Truist projects that First Solar, Inc. (NASDAQ:FSLR) will generate $1 billion in tax credits in 2024 and $1.6 billion in 2025, with expectations of similar monetization deals for its 2025 credits.

The company is also making significant strides in manufacturing expansion. First Solar, Inc. (NASDAQ:FSLR) recently inaugurated a $1.1 billion facility in Alabama, which will add 3.5 gigawatts of vertically integrated nameplate solar manufacturing capacity. Furthermore, the company is on track to commence operations at its Louisiana facility in the second half of 2025, further enhancing its U.S.-based production capabilities.

While we acknowledge the potential of FSLR, our conviction lies in the belief that certain AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than FSLR but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 8 Best Wide Moat Stocks to Buy Now and 30 Most Important AI Stocks According to BlackRock.

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