Investors should wait for a better entry point for First Solar (FSLR), considering its premium valuation compared to other solar stocks, despite its solid year-over-year returns.

Weakness is an opportunity with solar stocks. Granted, there have been concerns that a Trump presidential win could derail clean energy stocks.

The current chaos that continues to roil the markets is creating a lot of headaches and material losses as major indices fall. It's also creating top investing opportunities to capitalize as prices dip artificially low in some cases.

First Solar is a leading American solar manufacturer with facilities in multiple states and countries. Despite the stock pullback, the company continues to exceed earnings expectations due to the benefits of the Inflation Reduction Act. The probability of IRA repeal affecting stock price is overpriced, creating buying opportunity with potential mispricing.

The invention of clean energy has given many hope that it could be a future solution to nonrenewable energy sources and less pollutant energy production. Yet, the reality remains that each year the federal government spends billions of dollars to subsidize the industry.

You may think an article about the best solar stocks to buy in August 2024 would be a laughably short article. Few sectors have been as acutely affected by inflation and interest rates as solar energy companies.

The recent market correction is a reminder to investors that it's important to remain grounded even during bull markets. By this, I imply having a balanced portfolio and staying away from overvalued stocks.

The global renewable energy market is expected to blossom with the help of supportive policies and technological advancements. This creates an attractive backdrop for green energy stocks.

Zacks.com users have recently been watching First Solar (FSLR) quite a bit. Thus, it is worth knowing the facts that could determine the stock's prospects.

Renewable energy stocks haven't been able to withstand the market pressure and have shown high volatility over the past few quarters. Besides the surplus inventory, the political environment and macroeconomic situations have led to a profit drop.

One of the best ways to spot opportunity is by keeping tabs on stocks with raised price targets from leading firms like Barclays (NYSE: BCS ). Oftentimes, a firm, like Barclays will revise targets higher if the financial health of the covered stock has become far more favorable.

FSLR is expanding U.S. manufacturing capacity and benefiting from regulatory credits, positioning it as a key player against Chinese competitors and enabling strong fiscal 2024 and 2025 estimates. Attractive valuation with a forward PEG ratio of 0.46 and a P/E of 15.7, plus strong revenue growth. Anticipated market cap of $33B in 12 months, suggesting 45% stock growth. Risks include Chinese competition, potential U.S. policy changes, and supply chain disruptions. Despite these, FSLR remains a Strong Buy due to strategic growth and regulatory support.