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First Solar Stock Surges on UBS Endorsement and Favorable Tax Guidance
First Solar Stock Surges on UBS Endorsement and Favorable Tax Guidance
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BTCCSquare news:
First Solar's shares rallied nearly 10% to a 10-month high after UBS analyst Jon Windham named it a top pick, citing newly preserved solar tax credits through 2030. The IRS guidance removes a key uncertainty that had clouded the sector for over a year.
The Treasury Department's updated rules favor utility-scale projects—First Solar's Core market—by replacing strict construction requirements with a more flexible 'physical work test.' Solar developers rely heavily on such credits to offset capital-intensive project costs.
This follows First Solar's stronger-than-expected Q2 results, contributing to a 25% year-to-date gain. The stock's momentum reflects growing institutional confidence in renewable energy policy tailwinds.
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