Key Highlights

● FSLR shares ended 9 October 2026 at $177.82.

● Market data consensus target is $264.97, implying about 49.0% upside.

● The second data set shows a mean of $274.47 and a median of $271.

● Goldman Sachs cut its target from $310 to $272 on 8 October.

First Solar (NASDAQ:FSLR), a constituent of the S&P 500, closed at $177.82 on Friday 9 October 2026. Analyst targets are far above that level, but opinion has become more divided in recent weeks, with several rating downgrades alongside upgrades.

What Is the Latest Analyst Price Target?

Market data reports a consensus price target of $264.97 from 37 analysts, with a high of $330 and a low of $150. The second data set shows a higher average of $274.47 and a median of $271 from 36 analysts, with a high of $402 and a low of $197.

The market data figure of $264.97 lines up closely with the named broker targets published over the past three months, which average about $266. Against the $177.82 close, it implies potential upside of about 49.0%, an unusually large gap. On the second data set's average, the figure would be about 54.4%.

What Are Wall Street Analysts Saying?

Market data shows 24 Buy-equivalent ratings (22 Buy and two Strong Buy), 11 Hold and two Sell, a Moderate Buy consensus. The second data set lists 16 Strong Buy, 10 Buy, nine Hold and one Sell, a Buy consensus.

Recent revisions have mostly been downward. Goldman Sachs lowered its target from $310 to $272 on 8 October (Buy). Piper Sandler moved from $260 to $251 on 30 September (Overweight). On 22 September, GLJ Research cut its target from $315 to $250 and Baird from $318 to $290 (Outperform). In late August, Citigroup and Deutsche Bank downgraded to Hold. There were positives too: TD Cowen upgraded to Strong-Buy on 5 October, HSBC upgraded to Buy on 7 August, and Morgan Stanley raised its target from $245 to $323 in August. At the cautious end, Bernstein holds an Underperform rating with a $197 target.

What Could Help the Stock Reach the Price Target?

Many analysts continue to rate the shares Buy, and the October upgrade from TD Cowen suggests some see value after the fall in the share price. The second data set shows average forecasts for 2026 revenue of about $5.04 billion and non-GAAP earnings per share of about $17.58. If the company meets or beats these figures, helped by US manufacturing demand, policy support or firm module pricing, estimates and targets could be sustained.

What Could Prevent the Stock Reaching the Target?

The recent run of target reductions and rating downgrades points to growing caution. Solar manufacturers can be affected by changes in government policy and incentives, pricing and competition, trade rules and project timing.

The spread between the $150 low and $330 or $402 high targets is also wide, which indicates substantial uncertainty. If analysts continue to lower targets, the consensus could fall towards the share price without the shares needing to rise.

What Should Investors Watch Next?

Investors may also watch guidance and policy news.

First Solar's Wide Gap and Falling Targets

First Solar closed at $177.82 on 9 October 2026, with the market data consensus of $264.97 implying about 49% upside. If analysts keep lowering targets, the consensus could fall towards the share price without the shares needing to rise, and Bernstein remains at Underperform with a $197 target.