Canadian Solar Price Target Raised to $40.00 at Roth Capital (CSIQ)
Roth Capital boosted their price target on shares of Canadian Solar (NASDAQ:CSIQ) from $35.00 to $40.00 in a research note issued on Thursday. The firm currently has a “buy” rating on the stock. Roth Capital’s price target would suggest a potential upside of 28.91% from the stock’s previous close.
Shares of Canadian Solar (NASDAQ:CSIQ) traded up 4.88% on Thursday, hitting $32.545. 7,472,532 shares of the company’s stock traded hands. Canadian Solar has a 52-week low of $10.55 and a 52-week high of $44.50. The stock’s 50-day moving average is $27.82 and its 200-day moving average is $30.37. The company has a market cap of $1.713 billion and a price-to-earnings ratio of 41.48.
Canadian Solar (NASDAQ:CSIQ) last issued its quarterly earnings data on Wednesday, August 13th. The company reported $0.95 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.58 by $0.37. The company had revenue of $623.80 million for the quarter, compared to the consensus estimate of $577.65 million. On average, analysts predict that Canadian Solar will post $3.07 earnings per share for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at JPMorgan Chase & Co. raised their price target on shares of Canadian Solar from $41.00 to $43.50 in a research note on Tuesday, July 15th. They now have an “overweight” rating on the stock. Separately, analysts at FBR Capital Markets upgraded shares of Canadian Solar from a “market perform” rating to an “outperform” rating in a research note on Monday, July 7th. They now have a $40.00 price target on the stock. Finally, analysts at Canaccord Genuity initiated coverage on shares of Canadian Solar in a research note on Wednesday, July 2nd. They set a “buy” rating and a $43.00 price target on the stock. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $42.94.
Canadian Solar Inc (NASDAQ:CSIQ) designs, develops, and manufactures solar wafers, cells and solar module products that convert sunlight into electricity for a variety of uses.
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