Analysts Are Downgrading These 5 Stocks

3. First Solar, Inc. (NASDAQ:FSLR)

Number of Hedge Fund Holders: 45

Shares of First Solar, Inc. (NASDAQ:FSLR) fell over six percent on Thursday, February 2, after receiving a downgrade from BofA. Analyst Julien Dumoulin-Smith referred to FSLR stock’s outperformance since August 2022.

Dumoulin-Smith believes First Solar, Inc. (NASDAQ:FSLR) has already benefitted from the Inflation Reduction Act, and there is less room for growth from now on. The analyst cut his ratings for FSLR from “Buy” to “Neutral” and reduced his price target for the stock from $196 per share to $195 per share on February 2.

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