First Solar (NASDAQ:FSLR)
Shares of this American solar-module manufacturer climbed as much as 4.4 percent on Wednesday afternoon following the note. Citigroup pegged the company with a price target of $41, 35 percent above its Tuesday closing price, and a “Buy” rating.
First Solar’s strength is in no small part due to its size and relatively strong balance sheet. With a market cap of $2.65 billion, it’s the largest among the solar companies with bullish calls. First Solar had a fairly successful 2012, landing several key projects both in the U.S. and abroad. Most recently, the company announced the acquisition of a 50 megawatt project in New Mexico, which will be the state’s biggest when complete.