On August 7, First Solar rose 8.37% in regular trading, trading at $266.83/share, with turnover of $222 million. The stock extended its strong upward momentum following the release of Q2 earnings.

On the news front, the company reported Q2 earnings on July 30 after market close, posting EPS of $3.92, significantly exceeding the consensus estimate of $2.86 by 37% and representing a 23% year-over-year increase. Revenue came in at $1.056 billion, largely in line with expectations. The company maintained its full-year revenue guidance of $4.9 billion to $5.2 billion. First-half net income attributable to the parent reached $769 million, up 39.5% year-over-year.

Since the earnings release, multiple institutions have raised their price targets: UBS raised to $330 maintaining a Buy rating, Wells Fargo significantly raised to $320, Guggenheim raised to $282 maintaining Buy, and Barclays raised to $279 maintaining Overweight.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)