First Solar's shares plummeted 5.08% on Thursday, dragged down by analysts lowering their price targets on the stock following the company's full-year 2024 earnings report.
The solar panel manufacturer reported revenue and net income growth for 2024, but its earnings per share (EPS) missed analyst expectations by 8.6%. While revenue was in line with forecasts, the EPS miss led analysts to trim their price targets on First Solar.
Morgan Stanley cut its price target on First Solar to $238 from $297, though it maintained an Overweight rating. Deutsche Bank lowered its target to $265 from $280 but kept a Buy rating, citing the company's Q4 report.
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