On August 7, First Solar rose 6.5% in after-hours trading, trading at $258.0/share, with turnover of $11.98 million. The stock continues its strong rebound trajectory following the Q2 earnings release.

On the news front, the company reported Q2 earnings per share of $3.92, beating the consensus estimate of $2.86 by 37%, representing a 23% year-over-year increase. Revenue came in at $1.056 billion, largely in line with expectations. The company maintained its full-year revenue guidance of $4.9 billion to $5.2 billion. First-half net income attributable to the parent reached $769 million, up 39.5% year-over-year.

Multiple institutions have raised their price targets in recent weeks: Wells Fargo significantly raised its target to $320, UBS to $330, Barclays to $279, Guggenheim to $282 maintaining a Buy rating, and Mizuho to $300. Additionally, the company disclosed plans for a 1.9 GWh battery storage project supporting Google and a 3.5 GW module finishing capacity expansion at its South Carolina facility.

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