Canadian Solar Inc Receives a Buy from Oppenheimer

By Jason Carr

Oppenheimer analyst Colin Rusch assigned a Buy rating to Canadian Solar Inc (NASDAQ: CSIQ) today. The company’s shares closed yesterday at $17.30.

According to TipRanks.com, Rusch is a 4-star analyst with an average return of 8.3% and a 53.1% success rate. Rusch covers the Industrial Goods sector, focusing on stocks such as Capstone Turbine Corp, Amer Superconductor, and Chart Industries.

Canadian Solar Inc has an analyst consensus of Hold, with a price target consensus of $19.50.

Based on Canadian Solar Inc’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $912 million and quarterly net profit of $13.29 million. In comparison, last year the company earned revenue of $668 million and had a GAAP net loss of $13.33 million.

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Canadian Solar, Inc. engages in the design, development, and sale of solar photovoltaic modules. It offers solar ingots, wafers, cells, modules, and other solar power products. It operates through the Module and Energy segments. The Module segment designs, develops, manufactures, and sells solar power products and solar system kits.