First Solar (FSLR) rose 4% to $186.21 after Truist Securities upgraded the stock to Buy from Hold and raised its price target to $270, citing a stronger pricing outlook into the 2030s. The rally follows a Section 232 trade decision, effective in early December, that sets a minimum import price plus 44 cents a watt in tariffs on foreign crystalline silicon modules. Analyst Christopher Souther noted that First Solar's backlog already fixes near-term pricing and its U.S. Series 7 capacity is sold out through 2028, so the benefit may show up later in bookings. Enphase Energy (ENPH, $31.42, down 0.2%) and Sunrun (RUN, $7.61, up 0.3%) barely moved, as neither makes the modules affected by the tariff. Skeptics argue the gain is years away and enthusiasm could cool before higher-priced contracts reach reported results.
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