Canadian Solar (CSIQ) Surges 11% Amid Barclays Upgrade
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Shares of Canadian Solar (Nasdaq: CSIQ) are rallying sharply today on the back of a Barclays upgrade from this morning. The stock most recently traded at $16.40, up more than 11.6% from yesterday's closing price.
The firm moved its investment rating on the solar stock from the dreaded Underweight to Equalweight, also boosting its price target from $11.50 to $16.
With crude oil pushing toward the $80 level today, solar stocks are outperforming the broader markets. The Claymore/MAC Global Solar Index ETF (NYSE: TAN), commonly referred to as just "the TAN", is up more than 2% this afternoon.
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