Is First Solar (FSLR) One of the Best Cheap Growth Stocks to Get Rich?

First Solar, Inc. (NASDAQ:FSLR) is one of the top cheap growth stocks to get rich. Bernstein initiated coverage of First Solar, Inc. (NASDAQ:FSLR) with an Underperform rating on June 16 and set a price target of $217. The firm told investors in a research note that the stock’s bull case is entirely contingent on policy, with the market pricing in that it is permanent. It added that the company has 75% of its gross margin coming from tax credits, which may be vulnerable to a policy change or different administration. Bernstein believes that the company’s shares are priced at an indefinite 45X tax credits.

First Solar, Inc. (NASDAQ:FSLR) also received a rating update from Mizuho on June 15. The firm lifted the price target on the stock to $300 from $243 and reaffirmed an Outperform rating on the shares, citing higher U.S. import prices versus its prior estimate of a 3c per watt tariff for the target boost. The firm further told investors in a research note that more ad-valorem tariffs could push selling prices above 40c per watt in a bull case.

First Solar, Inc. (NASDAQ:FSLR) is a solar technology company involved in the provision of solar modules. The company is involved in the manufacture, design, and sale of cadmium telluride (CdTe) solar modules, which convert sunlight into electricity.

READ NEXT: 15 Stocks That Will Make You Rich in 10 Years AND 12 Best Stocks That Will Always Grow.

Disclosure: None. Follow Insider Monkey on Google News.