Canadian Solar (CSIQ) Seen a First Profitable China-Based Solar Company - Nomura

July 10, 2013 11:23 AM EDT
Get Alerts CSIQ Hot Sheet
Price: $12.63 --0%

Rating Summary:
    15 Buy, 11 Hold, 1 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 15 | Down: 17 | New: 10
Trade CSIQ Now!
Join SI Premium – FREE
Shares of Canadian Solar (NASDAQ: CSIQ) are 4 percent higher Wednesday following bullish commentary at Nomura Securities, which reiterated its Buy rating and aggressive $25 price target.

Analyst Nitin Kumar noted the company's strengthening project pipeline after it announced Tuesday the completion of three projects totalling 18MW in Jul-13F.

"We estimate revenues from these projects to be largely recognized in 3Q13F at gross margin of ~10%," he said. "Along with its strides in the project business, we note that the company’s traditional module business remains strong with the announcement last week of a 91MW module supply agreement with Soleq Solar in Thailand. We see Canadian Solar becoming the first China-based solar company to be profitable in FY13F."

For an analyst ratings summary and ratings history on Canadian Solar click here. For more ratings news on Canadian Solar click here.

Shares of Canadian Solar closed at $10.75 yesterday.

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Analyst Comments

Related Entities


Add Your Comment