First Solar Inc Stock Price Declines Following Proposed US Legislation
First Solar Inc’s stock price has fallen by over 12% in the past week, attributed to proposed US legislation that could phase out key renewable energy tax credits. The legislation has put pressure on the solar energy sector, leading to a decline in the company’s stock price.
Analyst Reactions
J.P. Morgan analysts remain supportive of the company, downplaying the impact of the Senate bill as a “mild negative.” However, other analysts have reduced their price targets for the company due to concerns over shifting policy winds.
Stock Price Decline
The company’s stock price has fallen, with some analysts citing a 19% decline in the company’s share value. The decline is a result of the proposed legislation and its potential impact on the solar energy sector.
Key Statistics
- Stock price decline: over 12% in the past week
- Analysts’ price target reductions: due to concerns over shifting policy winds
- Share value decline: up to 19% according to some analysts