T1 Energy

TE · NYSE

$2.47−$0.07 (−2.76%)TodayMarket closed · Oct 20, 4:05 PM ET

Prev close $2.54

TE analyst rating

BuyConsensus of 8 analysts over the last 12 months. 75% rate it a buy.

Strong buy0
Buy6
Hold2
Underperform0
Sell0

12-month price target · 12 analysts

Average $9.44 (+282.0% upside)

Low: $5.05
Now: $2.47
High: $16.80

Upgrades and downgrades

The latest rating actions, newest first

TE analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
JP Morgan	Sep 14, 2026	Initiates	Neutral	$5.00	—
BTIG	Aug 12, 2026	Maintains	Buy	$8.00 → $9.00	45%
Needham	Jul 28, 2026	Maintains	Buy	$8.00 → $7.00	30%
Bernstein	Jun 17, 2026	Initiates	Market Perform	$9.00	43%
Northland Capital Markets	Jun 3, 2026	Initiates	Outperform	$16.00	58%
Needham	May 12, 2026	Maintains	Buy	$8.00	30%
BTIG	May 12, 2026	Maintains	Buy	$7.00 → $8.00	45%
Needham	Apr 2, 2026	Maintains	Buy	$10.00 → $8.00	30%
Alliance Global Partners	Dec 9, 2025	Initiates	Buy	$8.50	41%
Johnson Rice	Dec 2, 2025	Initiates	Buy	$8.00	44%

The case for and against

Updated Oct 14, 2026

Bull case

T1 Energy is positioned as a compelling domestic solar manufacturing story because it is converting a Texas module platform into an integrated U.S. supply chain, with Section 232 tariffs and IRA incentives strengthening demand for high-domestic-content products. Its Q1 results showed clear operational leverage, with net sales of $177.6M, gross margin of 17%, and record Adjusted EBITDA of $9.1M, while 3 GW of 2026 volume is already locked under fixed-margin or cost-plus contracts. Backlog growth, a signed ~641 MW Clearway Energy contract, and multi-GW domestic polysilicon and wafer supply starting 2H26 support visibility into 2027 and beyond as the G2 cell plant moves toward Phase 1 startup in 1Q27.

Bear case

T1 Energy is viewed negatively because its growth story depends on building out capacity on time and on budget, yet the financing environment remains challenging and could force inefficient capital raises that delay module and cell production ramps. The company also faces persistent execution risk from construction delays, imported component supply-chain disruptions, and policy uncertainty around ITC/IRA benefits, Section 232 tariffs, and FY26 credit monetization. Despite an implied ~40x 2026 EBITDA multiple on about $52M, profitability is back-end loaded with 2028 expected to be the first year of normalized profitability, while 2026 remains exposed to volatile pricing and margin pressure.

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