Canaccord Remains Positive on Canadian Solar Inc. Despite Weak Guidance

In a research report published today, Canaccord analyst Jed Dorsheimer maintained a Buy rating on shares of Canadian Solar Inc. (NASDAQ:CSIQ) and reduced the price target from $46 to $40, after the company provided a weak third quarter revenue guidance. The company will recognize less module sales volume as it transitions to a build-and-hold model. Additionally, margins are expected to be lower due to the U.S. tariff situation.

Dorsheimer commented: “We continue to believe that Canadian Solar’s module business will experience a tightening supply/demand during this bullish end-of-year adoption cycle, which should benefit CSIQ’s core operations. Although recent YieldCo and solar volatility have had dramatic valuation impacts, we believe the fundamental PV growth story is still intact. The company remains tight-lipped on YieldCo news, but mentioned it looks to make its confidential SEC filing “very soon” and still targets the end of the year or beginning of next year. We maintain our BUY rating, but reduce our price target.”

According to, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Jed Dorsheimer has a total average return of -1.8% and a 39.4% success rate. Dorsheimer has a -10.4% average return when recommending CSIQ, and is ranked #3152 out of 3740 analysts.

Out of the 6 analysts polled by TipRanks, 4 rate Canadian Solar stock a Buy, 1 rates the stock a Hold and 1 recommends Sell. With a return potential of 126.0%, the stock’s consensus target price stands at $46.


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