Company Update (NASDAQ:CSIQ):Canadian Solar Provides an Update on its Late-Stage Solar Project Pipeline
Canadian Solar Inc. (the “Company”, or “Canadian Solar”) (NASDAQ:CSIQ), one of the world’s largest solar power companies, today provided an update on its late-stage solar energy project pipeline. Currently, Canadian Solar’s total late-stage solar project pipeline stands at 1.4 GWp, unchanged from 1.4GWp in November of 2014, despite the completion of over 100 MWp of projects in Canada and in the U.S. during the fourth quarter of 2014. As outlined below, the Company has continued to make progress in expanding its pipeline in several geographies, including Japan, the UK and China. In Canada, the backlog of owned projects and enginee… Read more »
Shares of Canadian Solar closed yesterday at $19.77 . CSIQ has a 1-year high of $44.50 and a 1-year low of $18.68. The stock’s 50-day moving average is $21.97 and it’s 200-day moving average is $28.74.
On the ratings front, Canadian Solar (NASDAQ: CSIQ) has been the subject of a number of recent research reports. In a report issued on January 5, Roth Capital analyst Philip Shen maintained a Buy rating on CSIQ, with a price target of $40, which represents a potential upside of 102.3% from where the stock is currently trading. Separately, on December 1, FBR`s Aditya Satghare reiterated a Buy rating on the stock and has a price target of $45.
In total, 4 research analysts have given a Buy rating to the stock. When considering if perhaps the stock is under or overvalued, the average price target is $19.77 which is 109.1% above where the stock closed yesterday.
Canadian Solar Inc is a solar power company. The Company designs, develops, and manufactures solar wafers, cells and solar power products.