- First Solar (FSLR -0.7%) is upgraded to Market Perform from Underperform at JMP Securities, which says a petition related to foreign manufactured crystalline silicon cells and modules filed with the U.S. International Trade Commission by bankrupt solar cell maker Suniva could benefit the company.
- According to TheFly.com, JMP says that while it is difficult to predict an outcome, recent actions from the Trump administration on other trade issues suggest there is a chance that the USITC petition could be signed, and that the result for FSLR would be "materially positive" as it would likely improve the company's competitive prospects in the U.S.
- The firm also notes that FSLR likely would be able to move product into the U.S. from its Malaysian facility - which is expected to represent 75% of total manufacturing capacity by the end of 2019 - without facing tariffs.
- Now read: Valuing First Solar - A Comprehensive Analysis
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