** Shares of solar panel maker First Solar FSLR.O rise 9.5% premarket to $171 after Wolfe Research upgrades rating to "outperform"
** Brokerage attributes the upgrade to better clarity on 45X credit rules, adding co stands to earn $10 bln or ~$92/share of credits through 2031
** 45X tax credits offer better tax incentives to companies for making clean energy products
** Wolfe says FSLR is set to benefit as the "only domestic solar module manufacturer of scale" and its non reliance on foreign parts such as cells or wafers
** Brokerage adds the Department of Energy's Bipartisan Infrastructure Law bill's Foreign Entity of Concern restrictions favor the company
** "... Restrictions are relatively strict and another good signal that it will be tough for Chinese manufacturers to compete in the U.S." - Wolfe
** 34 of 40 analysts rate stock as "buy" or higher, 5 "hold" and 1 "sell"; Median PT is $199
** As of last close, FSLR down 11.4% YTD vs S&P 500 Information Technology index's .SPLRCT decline of 3.9%
(Reporting by Twesha Dikshit)
((Twesha.Dikshit@thomsonreuters.com))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.