Jefferies cuts First Solar price target citing rising logistics costs from Middle East conflict.

Jefferies analyst Julien Dumoulin-Smith lowered the price target for First Solar from $205 to $187, maintaining a Hold rating due to concerns over inflationary logistics costs linked to the Middle East conflict. These rising costs are expected to pressure margins industry-wide, including First Solar, which already faces underutilization and production start-up expenses in its 2026 guidance. Despite a strong domestic manufacturing position and solid 2025 revenue growth, the stock has dropped 26% year-to-date and trades above Jefferies' new target. Investors should monitor margin trends closely, as the company’s long-term outlook remains positive but near-term cost pressures may persist.