5 Most Promising Solar Stocks According to Analysts

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

Average Analyst Price Target: $183

Solar panels maker First Solar, Inc. (NASDAQ:FSLR) has been a remarkable performer over the past 12 months, gaining about 144% during the period through February 13. Analysts believes First Solar, Inc. (NASDAQ:FSLR) has further growth upside. According to Wall Street data, the average analyst price target for First Solar, Inc. (NASDAQ:FSLR) is $183. Of the 920 hedge funds tracked by Insider Monkey, 45 hedge funds had stakes in First Solar, Inc. (NASDAQ:FSLR), up from 26 hedge funds in the previous quarter. This shows that hedge funds piled into First Solar, Inc. (NASDAQ:FSLR) during the third quarter of the year as the stock market was going through turmoil.

In January, Wells Fargo upgraded the stock to Overweight from Equal Eight and gave a price target of $188. Wells Fargo called First Solar, Inc. (NASDAQ:FSLR) one of its “best ideas” for 2023.