SolarBargain alternative stock investors typically aim for picks in the sub-$10 range, but the current market has created conditions that make some pricier stocks more appealing. First Solar Inc. (NASDAQ: FSLR) dropped almost 10% on Monday, following a slide in oil prices that made traditional energy more appealing in the short term. Is now the perfect opportunity to buy?

Renewable sources are the future of global energy production. It is expected that solar and other alternatives will dominate the energy market within the next 50 years. First Solar produces, markets, and sells solar power systems and modules. The stock has been popular over the last year, due to the company’s strong revenue and earnings growth. In the 2019 fiscal year, revenue was up 36.39%, while gross income was up 38.97%. This was the first time in five years that the company generated income growth. It currently operates with a gross profit margin of 17.88%.

Stock could continue to slide in the coming week, due to wider market volatility. However, this creates a discounted buying opportunity. While the stock is almost 4x the typical bargain price, it still has a significant upside available. Analysts predict a long-term price target of $65.08, indicating strong growth for investors who buy in the first quarter.

Key Data:

  • 1 Year Price Growth: -27.41%
  • YTD Price Growth: -30.04%
  • 3 Month Price Growth: -25.39%

All information is based on current and historical market data, as well as publicly available financial data. As with any financial decision, your own research is important. Stock market outcomes can never be 100% accurately predicted. Familiarity with historical data, individual industries, and individual stocks is key to developing a robust portfolio. Note that stock prices can fluctuate rapidly during trading sessions.