Canadian Solar Inc (NASDAQ:CSIQ) Receives a Downgrade
Shares of New York-listed Canadian Solar Inc (NASDAQ:CSIQ) Have been downgraded by stock analysts at Standpoint Research. Standpoint Research cut their rating for the $1.22B market cap company to a “Hold” from their previous “Buy” rating.
From a total of 9 analysts covering Canadian Solar Inc. (NASDAQ:CSIQ) stock, 8 rate it a ”Buy”, 0 a “Sell”, and 1 a ”Hold”. This means that 89% of the ratings are positive. The highest target price is $43 while the lowest target price is $25. The mean of all analyst targets is $34.33 with a 53.88% above today’s ($22.31) stock price. Canadian Solar Inc. was the topic of 11 analyst reports since August 19, 2015 according to the firm StockzIntelligence Inc. Standpoint Research downgraded shares on November 25 to “Hold” rating. Standpoint Research upgraded shares to “Buy” rating and $26 target share price in a report from an August 21. Stifel Nicolaus initiated CSIQ stock in a recent report from September 24 with “Buy” rating. TH Capital maintained the rating on August 19. TH Capital has a “Buy” rating and a $40 price target on shares. Finally, Cowen & Co initiated the stock with “Outperform” rating in a report issued on an August 25.
The stock increased 2.11% or $0.46 on November 25, striking $22.31. Approximately 2.00 million shares of stock traded hands. Canadian Solar Inc. (NASDAQ:CSIQ) has declined 38.64% since April 24, 2015 and is downtrending. It has underperformed by 37.28% the S&P500.
Canadian Solar Inc. is a solar power company, which designs, develops and makes solar wafers, solar cells and solar power products. The company has a market cap of $1.22 billion. The Company’s solar power products include standard solar modules and specialty solar products. It has 7.04 P/E ratio. It has two divisions: module segment and energy segment.
According to Zacks Investment Research, “Canadian Solar Inc is a solar module producer. The Company offers ingots, wafers, solar cells, solar modules and other solar applications for on-grid and off-grid use to customers worldwide. The Company also designs and produces specialty solar modules and products such as solar-powered bus stop lighting; and specialty products, such as portable solar home systems and solar-powered car battery chargers. Canadian Solar has operations in North America, Europe and Asia. The company sells its products under the Canadian Solar brand name. Canadian Solar Inc is based in Kitchener, Canada.” Get a free copy of the Zacks research report on Canadian Solar Inc. (CSIQ)