Oppenheimer Remains a Buy on Canadian Solar (CSIQ)

By Jason Carr

Oppenheimer analyst Colin Rusch maintained a Buy rating on Canadian Solar (CSIQResearch Report) today and set a price target of $24.00. The company’s shares closed last Monday at $17.52.

According to TipRanks.com, Rusch is a 5-star analyst with an average return of 16.3% and a 49.7% success rate. Rusch covers the Industrial Goods sector, focusing on stocks such as American Superconductor, Capstone Turbine, and Fuelcell Energy.

The word on The Street in general, suggests a Hold analyst consensus rating for Canadian Solar.

See today’s analyst top recommended stocks >>

Based on Canadian Solar’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $760 million and net profit of $58.33 million. In comparison, last year the company earned revenue of $768 million and had a net profit of $66.54 million.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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. The MSS segment involves in the design, development, manufacture, and sales of solar power products and solar system kits, and operation and maintenance services. The Energy segment comprises primarily of the development and sale of solar projects, operating solar power projects and the sale of electricity. The company was founded by Shawn Qu in October 2001 and is headquartered in Guelph, Canada.