JPMorgan Downgrades Canadian Solar (CSIQ) to Underweight
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(Updated - October 22, 2018 6:48 AM EDT)
(updated to add analyst comment)
JPMorgan analyst Paul Coster downgraded Canadian Solar (NASDAQ: CSIQ) from Neutral to Underweight with a price target of $15.00.
The analyst cites the valuation for the downgrade as his fundamental view is that CSIQ visibility remains difficult for potential upside to estimates in FY 2018/2019 due to the magnitude of the solar glut.
Shares of Canadian Solar closed at $15.02 yesterday.
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