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First Solar Stock Gets Another Upgrade. Thank the Inflation Reduction Act.

·2 min read
First Solar Stock Gets Another Upgrade. Thank the Inflation Reduction Act.

First Solar stock edged higher Thursday after an analyst upgraded shares of the solar-panel manufacturer after the passing of the Inflation Reduction Act. The Inflation Reduction Act was passed in the Senate on Sunday; the climate and tax package could unlock $370 billion in funding for the clean-energy industry. KeyBanc analyst Sophie Karp said in a research note that the bill’s passage “translated into substantial enthusiasm” around the solar energy space, which she thinks is justified and will continue.