Canadian Solar Inc. (NASDAQ:CSIQ), one of the world’s largest solar power companies, today announced that the company has introduced the new T4 Field-Installable PV Connector portfolio to the North American market.
The T4 PV Connector is a high-quality field-installable PV connector manufactured by TLIAN, a subsidiary of Canadian Solar established in December 2014. The T4 Connector has been in production since May 2015, after being granted state-of-the-art double certification per IEC62852/UL6703 standards, with over 12 million connectors already deployed in field installations.
The T4 Connector is certified for UL 1500V DC system voltage and has an IP68 rating for highest ingress protection for water / humidity – which increases the reliability and long-term stability of the connector significantly compared to the current industry-standard IP67 rating for connectors. In addition, the new Canadian Solar connector portfolio supports a broader operating temperature range of -40ºC～+90ºC to allow the usage in very hot climates such as the Middle East, Central America and others. The NEC-compliant locking mechanism secures against vandalism and against unplugging under load for maximum safety and protection.
Dr. Shawn Qu, Chairman and Chief Executive Officer of Canadian Solar, said, “We are very pleased to introduce the T4 PV Connector portfolio and all related tools and accessories to the North American market. This high-quality, field-installable connector addresses our customers’ need to have reliable and cost-effective connectors, complementing our 1500V DC system. With 12 million connectors already deployed in the field, the T4 PV Connector has proven itself as a reliable milestone further reducing overall PV system costs.” (Original Source)
Shares of Canadian Solar closed yesterday at $14.78, up $0.22 or 1.51%. CSIQ has a 1-year high of $29.83 and a 1-year low of $13.56. The stock’s 50-day moving average is $16.00 and its 200-day moving average is $18.57.
On the ratings front, Canadian Solar has been the subject of a number of recent research reports. In a report issued on July 7, Roth Capital analyst Gerry Sweeney reiterated a Buy rating on CSIQ. Separately, on June 28, Canaccord Genuity’s Jonathan Dorsheimer maintained a Buy rating on the stock and has a price target of $29.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Gerry Sweeney and Jonathan Dorsheimer have a total average return of -0.2% and -5.6% respectively. Sweeney has a success rate of 51.1% and is ranked #2736 out of 4064 analysts, while Dorsheimer has a success rate of 41.6% and is ranked #3772.
Canadian Solar, Inc. designs, develops, and manufactures solar wafers, cells and solar power products. Its products include a range of standard solar modules built to general specifications for use in a range of residential, commercial and industrial solar power generation systems. Canadian Solar also designs and produces solar modules and products based on its customer’s requirements.