Why These Energy Stocks are Gaining This Week

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

Share Price Gains Between June 26 – July 3: 18.89%

First Solar, Inc. (NASDAQ:FSLR) is a leading American solar technology company and global provider of responsibly produced, eco-efficient solar modules.

The American solar energy industry, including First Solar, Inc. (NASDAQ:FSLR), received a boost this week after the final approved draft of President Trump’s sweeping tax and spending bill turned out to be more flexible towards the industry than its earlier versions. Though the legislation will still phase out the industry’s much-needed tax credits sooner than expected, the phaseout is more gradual than the previous versions of the bill, which had a hard deadline of December 31, 2027.

First Solar, Inc. (NASDAQ:FSLR) also received a boost after RBC Capital analyst Christopher Dendrino raised the stock’s price target from $188 to $200, while maintaining an ‘Outperform’ rating on its shares.