Sophie Corp named its top stocks for renewables exposure

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First Solar Inc (Nasdaq: FSLR) has already doubled in the past six months, but the KeyBanc expert recommends sticking with it as there is still more intervention to open.

The first solar stock to benefit from an IRA

Sophie Carp is convinced that this US manufacturer of solar panels will be a major beneficiary of the “De-Inflation Act”. on CNBC “Fast Money”She said:

 

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First Solar is a great way to get exposure to renewables. It is certainly ahead of the competition on domestic skill additions benefiting from the IRA. I hope they announce more expansion soon.

The federal law promises more than $300 billion in clean energy investment, which is why Corp. is largely creative for solar-equipment makers.

Karp suggests Buying First Solar Shares And seeing upside up to $175 – another 20% from here.

The first solar stack is even cheaper

Likes carp too The first solar stock For its strong balance sheet. This is 8Th It’s the best-performing name in the S&P 500 this year, and yet, he’s not expensive to own.

Although up 80% year-to-date, the valuation still looks attractive. It is trading at 15 times price to earnings multiple of 2024 numbers. One of the best established names to reap all the tax benefits from an IRA.

Last month, the Nasdaq-listed company agreed to supply Intersect Power with an additional 4,900 MW of thin-film photovoltaic modules.

However, First Solar Inc’s shy of Street valuations is noteworthy Its latest report is quarterly.

 

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