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

By Austin Angelo

In a report released today, Colin Rusch from Oppenheimer assigned a Buy rating to Canadian Solar Inc (NASDAQ: CSIQ), with a price target of $31. The company’s shares opened today at $11.50, close to its 52-week low of $10.25.

According to TipRanks.com, Rusch is a 4-star analyst with an average return of 6.1% and a 45.1% success rate. Rusch covers the Technology sector, focusing on stocks such as Trimble Navigation Limited, SolarEdge Technologies, and Ultra Clean Holdings.

Currently, the analyst consensus on Canadian Solar Inc is Strong Buy and the average price target is $31, representing a 169.6% upside.

In a report issued on November 18, Roth Capital also reiterated a Buy rating on the stock with a $20 price target.

The company has a one year high of $29.83 and a one year low of $10.25. Currently, Canadian Solar Inc has an average volume of 1.79M.

Canadian Solar, Inc. designs, develops, and manufactures solar wafers, cells and solar power products. Its products include a range of standard solar modules built to general specifications for use in a range of residential, commercial and industrial solar power generation systems. Canadian Solar also designs and produces solar modules and products based on its customer’s requirements. Canadian Solar was founded by Shawn Qu in October 2001 and is headquartered in West Guelph, Canada