NEW YORK (TheStreet) -- Shares of First Solar (FSLR - Get Report) are gaining by 5.61% to $58.38 as certain solar stocks are rallying on Monday, after representatives from 195 countries, including the U.S., reached a deal in Paris to lower greenhouse gas emissions on Saturday.

The deal could cause a shift away from investment in coal, oil and gas as primary energy sources to alternative energy sources like wind, solar and nuclear power, the New York Times reports.

The Paris deal will cut global greenhouse gas emissions by about half at best, which is the amount needed to fend off devastating consequences of a warming planet including rising sea levels, severe droughts and flooding, according to scientific studies, the Times reports. The accord will not solve global warming by itself though, said scientists who have analyzed the deal.

"The world finally has a framework for cooperating on climate change that's suited to the task," Michael Levi, an expert on energy and climate change policy at the Council on Foreign Relations told the Times. "Whether or not this becomes a true turning point for the world, though, depends critically on how seriously countries follow through."

First Solar is a Tempe, AZ-based global provider of solar energy solutions.

Separately, recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author. TheStreet Ratings has this to say about the recommendation:

We rate FIRST SOLAR INC as a Buy with a ratings score of B. This is driven by a number of strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, solid stock price performance, impressive record of earnings per share growth and compelling growth in net income. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results.

Highlights from the analysis by TheStreet Ratings Team goes as follows:

  • The revenue growth greatly exceeded the industry average of 9.7%. Since the same quarter one year prior, revenues rose by 42.8%. Growth in the company's revenue appears to have helped boost the earnings per share.
  • FSLR's debt-to-equity ratio is very low at 0.06 and is currently below that of the industry average, implying that there has been very successful management of debt levels. Along with this, the company maintains a quick ratio of 2.70, which clearly demonstrates the ability to cover short-term cash needs.
  • Powered by its strong earnings growth of 283.14% and other important driving factors, this stock has surged by 26.18% over the past year, outperforming the rise in the S&P 500 Index during the same period. Regarding the stock's future course, although almost any stock can fall in a broad market decline, FSLR should continue to move higher despite the fact that it has already enjoyed a very nice gain in the past year.
  • FIRST SOLAR INC reported significant earnings per share improvement in the most recent quarter compared to the same quarter a year ago. The company has demonstrated a pattern of positive earnings per share growth over the past two years. We feel that this trend should continue. During the past fiscal year, FIRST SOLAR INC increased its bottom line by earning $3.88 versus $3.61 in the prior year. This year, the market expects an improvement in earnings ($4.49 versus $3.88).
  • The net income growth from the same quarter one year ago has significantly exceeded that of the S&P 500 and the Semiconductors & Semiconductor Equipment industry. The net income increased by 288.9% when compared to the same quarter one year prior, rising from $89.83 million to $349.32 million.
  • You can view the full analysis from the report here: FSLR