Oppenheimer Thinks Canadian Solar Inc’s Stock is Going to Recover


In a report released today, Colin Rusch from Oppenheimer maintained a Buy rating on Canadian Solar Inc (NASDAQ: CSIQ), with a price target of $19. The company’s shares opened today at $12.49, close to its 52-week low of $11.37.

Rusch said:

“As the solar industry navigates a sizable air pocket in demand due to China policy changes and waits for clarity on India domestic production mandates, CSIQ is making prudent investments in technology which we believe will position it well for the next upcycle. We believe the company’s multi-PERC technology offers the potential to differentiate its product by having efficiency near mono-silicon modules at a meaningful cost advantage. We note CSIQ has historically been a leader in technology-driven cost reduction for silicon module technology and maximizing performance of lower purity materials. This leadership appears to be true again, going through this cycle. We remain constructive on the shares, looking for a bottom in module pricing and capacity during 4Q18.”

According to TipRanks.com, Rusch is a 5-star analyst with an average return of 11.8% and a 48.2% success rate. Rusch covers the Industrial Goods sector, focusing on stocks such as Capstone Turbine Corp, Amer Superconductor, and Fuelcell Energy.

Canadian Solar Inc has an analyst consensus of Moderate Buy, with a price target consensus of $17.33.

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The company has a one-year high of $19.09 and a one-year low of $11.37. Currently, Canadian Solar Inc has an average volume of 999.7K.

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Canadian Solar, Inc. engages in the manufacture of solar photovoltaic modules and a provider of solar energy solutions. It operates through the Module and System Solutions (MSS), and Energy segments.

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