Canaccord Genuity Raises PT on Canadian Solar (CSIQ); Positive Preannouncement, But Difficulties in Solar Remain
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Price: $15.14 -1.11%
Rating Summary:
13 Buy, 15 Hold, 3 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
13 Buy, 15 Hold, 3 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Canaccord Genuity maintains a 'Hold' on Canadian Solar (NASDAQ: CSIQ) price target increased to $5.00.
Analyst, Jonathan Dorsheimer, said, "We are raising our price target to $5 to reflect the gradually improving sentiment in the solar space. Despite the improving sentiment, we still expect a very difficult transition period in 2012 and remind investors that profitability in solar may still be elusive despite volume growth given our predictions of deceleration in the velocity of cost reductions without commensurate ASP stabilization. Our target is based off of a 0.4x multiple of tangible book value, a 20% discount to the Tier-1 peers."
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 $4.18 yesterday.
Analyst, Jonathan Dorsheimer, said, "We are raising our price target to $5 to reflect the gradually improving sentiment in the solar space. Despite the improving sentiment, we still expect a very difficult transition period in 2012 and remind investors that profitability in solar may still be elusive despite volume growth given our predictions of deceleration in the velocity of cost reductions without commensurate ASP stabilization. Our target is based off of a 0.4x multiple of tangible book value, a 20% discount to the Tier-1 peers."
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 $4.18 yesterday.
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