Canadian Solar Inc. (NASDAQ:CSIQ), one of the world’s largest solar power companies, today announced that the company will now be offering its MaxPower polycrystalline module in a new 320W power class. The MaxPower CS6X-320P is a more robust module with higher power efficiency. In addition, when the MaxPower CS6X-320P module is paired with a respective Canadian Solar CSI-23/28/36KTL-CT 3-phase inverter, a stronger, more cost-effective systems solution can be achieved from a single bankable supplier like Canadian Solar.
Along with the 310W and 315W polycrystalline modules, the 320W power class is an innovative addition to the MaxPower line of solar PV modules. Consistent with Canadian Solar’s high product quality, this module includes the brand’s 25-year linear power output warranty and a 10-year product warranty on materials and workmanship. Furthermore, this new power class gives solar installers and project developers the ability to reduce their overall balance of system costs for small commercial, large commercial, distributed generation, and utility-scale projects.
Dr. Shawn Qu, Chairman and Chief Executive Officer of Canadian Solar, said, “Canadian Solar’s new 320W polycrystalline solar module highlights the company’s innovative spirit and dedication to product development. Not only have we been able to achieve one of the highest power classes commercially available, but our ability to offer this module at a competitive price point is a testament to our bankability and reputable position in the industry. We believe that this new product will satisfy consumer demand for a more efficient module, while at the same time give Canadian Solarleverage over other module manufacturers.” (Original Source)
Shares of Canadian Solar closed yesterday at $20.20. CSIQ has a 1-year high of $41.12 and a 1-year low of $18.68. The stock’s 50-day moving average is $25.61 and its 200-day moving average is $31.05.
On the ratings front, Canadian Solar has been the subject of a number of recent research reports. In a report released yesterday, Canaccord Genuity analyst Jonathan Dorsheimer maintained a Buy rating on CSIQ, with a price target of $40, which represents a potential upside of 98.0% from where the stock is currently trading. Separately, on the same day, Roth Capital’s Philip Shen maintained a Buy rating on the stock and has a price target of $40.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Jonathan Dorsheimer and Philip Shen have a total average return of -2.7% and -16.3% respectively. Dorsheimer has a success rate of 38.2% and is ranked #3290 out of 3741 analysts, while Shen has a success rate of 19.8% and is ranked #3718.
Canadian Solar Inc is a solar power company. The Company designs, develops and manufactures solar wafers, cells and solar power products.