Canaccord: Canadian Solar Remains One Of The Top Players In The Solar Market
Canaccord Genuity issued a report on Canadian Solar Inc. (NASDAQ: CSIQ) after industry YieldCo announcements and new European regulation developments and investigations. Canaccord rates Canadian Solar as a Buy and lowered its price target from $46 to $45.
Analysts Jed Dorsheimer and Jason Rosenfeld wrote, "Overall, we believe that positive sentiment has returned to the solar group and investors await further details on Canadian Solar's imminent YieldCo. Our optimism on the space continues and we remain buyers of the top names in the group, including Canadian Solar. While volatility is likely to remain until further YieldCo details are announced, we would be selective on pullbacks to build a position."
Canadian Solar continues to discuss its eventual transition from a build-to-sell model to a build and operate/hold model. Canaccord believes that this will create significant added value over the long-term as consistent cash flows are returned to investors. Pipeline additions are necessary for Canadian Solar going forward as it will give the company options for future projects and increase overall profitability.
Shares of Canadian Solar recently traded at $33.89, down 0.87 percent.
Latest Ratings for CSIQ
Apr 2015 | Canaccord Genuity | Maintains | Buy | |
Mar 2015 | Goldman Sachs | Upgrades | Neutral | Buy |
Mar 2015 | Standpoint Research | Downgrades | Buy | Hold |
View More Analyst Ratings for CSIQ
View the Latest Analyst Ratings
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