Nomura Securities Remains Bullish on Canadian Solar (CSIQ) Following Roadshow

Nomura Securities reiterates a Buy rating and $46.00 price target on Canadian Solar (NASDAQ: CSIQ) following a non-deal roadshow. Analyst Nitin Kumar said that CSIQ CEO, Dr. Shawn Qu, re-confirmed that CSIQ intends to list its yield co vehicle in the US in late 2015/early 2016.

Kumar commented, "CSIQ reiterated their launch expectations for late 2015 to early 2016 with a CAFD of USD50~65mn by end of 2016. CSIQ views the CAFD as optimal as it allows CSIQ room to meet growth expectations. CSIQ CEO reconfirmed that they intend to list the yield co in the US and not London. CSIQ noted that the yield co would be incorporated in the UK as US incorporation could result in double taxation on its non-US assets."

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 $33.18 yesterday.

You May Also Be Interested In

• Canadian Solar wins dismissal of Maxeon patent suit over solar tech
• Amgen (AMGN) PT Raised to $400 at Cantor Fitzgerald on Higher Sales Estimates
• CrowdStrike (CRWD) PT Raised to $250 at Benchmark Ahead of Q2 Results