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According to Street Insider, Kaufman Bros has reinstated coverage on First Solar (FSLR) with a Buy rating and has a $140 price target.

The firm calls First Solar “the preeminent stock in the solar space” which should represent a “core holding for investors.” Kaufman notes that a recent sell-off in the stock (about 7% since mid-March) “provides an opportunity to get in at a reasonable, if not cheap, level.” The firm said it believes that First Solar is the low-cost manufacturer of solar modules and that “the industry is not likely to challenge that over at least the next five years.”

Shares are up a couple bucks in after hours trading.