Roth Capital Bumps Ests on Canadian Solar (CSIQ) Higher Following Prelim. Q4 Numbers

Roth Capital reaffirms Canadian Solar (Nasdaq: CSIQ) with a Buy rating and $40 following pre-announced Q4 results issued earlier.

Analyst Philip Shen is raising estimates on CSIQ following the results. Q4 revenue moves from $947 millin to $1 billion, gross margins from 13.9 percent out to 15.1 percent, and EPS from $0.64 to $0.81.

Shen commented, Earlier today, CSIQ pre-announced Q4 results to the upside on robust demand and a greater mix to higher ASP markets. Additionally, due to market conditions, CSIQ suspended its $100mn ATM after raising $14mn under the program; the stock traded up as much as 19% on the news. We believe the market continues to undervalue CSIQ and its project business.

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

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