Roth Capital Reiterates Buy On Canadian Solar Following Investor Meetings

In a research report released this morning, Roth Capital analyst Philip Shen reiterated coverage with a “Buy” rating on Canadian Solar Inc. (CSIQ), and a price target of $35.00 following investor meetings with CSIQ’s CFO.

Shen comments: “We recently hosted investor meetings with CSIQ’s CFO, Michael Potter, and came away incrementally more positive. Following Q1, we had expected downside estimate revisions as the company has a steep H2’14 project ramp. Timelines, however, appear to be on-track with weather being the primary unknown. As for the module business, Q2 ASPs could see 1-2c of upside QoQ, and Q3 demand for modules sounds firm”.

According to TipRanks, which measures analysts and bloggers success rate based on how their calls perform, analyst Philip Shen currently has a one-year average return of 1.3% and a 41% success rate. Shen has a 17.1% average profit recommending CSIQ, and he is ranked #3863 out of 6608 analysts.

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