Connect with us

Hi, what are you looking for?


Sophie Karp names her top stock for renewables exposure

first solar stock is best for renewables exposure

First Solar Inc (NASDAQ: FSLR) has already more than doubled over the past six months but a KeyBanc expert recommends sticking to it as it still has more upside that’s yet to unlock.

First Solar stock to benefit from the IRA

Sophie Karp is convinced that this American manufacturer of solar panels will be a key beneficiary of the “Inflation Reduction Act”. On CNBC’s “Fast Money”, she said:

First Solar is the best way to get exposure to renewables. It’s definitely ahead of competition on domestic capacity additions that would benefit from the IRA. I believe they’ll announce additional expansion in the near term.

The federal law promises more than $300 billion investment into clean energy, which is why Karp is constructive on solar equipment makers at large.

Karp recommends buying First Solar stock and sees upside in it to $175 – up another 20% from here.

First Solar stock is still inexpensive to own

Karp also likes First Solar stock for its strong balance sheet. It’s the 8th best performing name in the S&P 500 this year and yet, she does not find it expensive to own.

Despite being up 80% year-to-date, it still seems attractive on valuation. It’s trading at 15 times price to earnings multiple on 2024 numbers. They’re one of the best positioned names to harvest all the tax benefits from the IRA.

Last month, the Nasdaq-listed firm agreed to supplying an additional 4,900 megawatt of its thin film photovoltaic modules to Intersect Power.

It is noteworthy, though, that First Solar Inc was shy of Street estimates in its latest reported quarter.

The post Sophie Karp names her top stock for renewables exposure appeared first on Invezz.

You May Also Like


Inflation appears to be on the decline. The Personal Consumption Expenditures Price Index (PCEPI), which is the Federal Reserve’s preferred measure of inflation, grew...


Artificial Intelligence has been the buzz word in financial markets ever since Microsoft announced its multibillion-dollar investment in ChatGPT (read more). According to Futurum...


“I will make no apologies that we are investing to make America strong. Investing in American innovation, in industries that will define the future,...


Mimiq, Inc is announcing today the launch of their new product, Mimiq Track, at CES as part of their latest product line to operate...

Disclaimer:, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2023