UPDATE: Goldman Sachs Downgrades Canadian Solar (CSIQ) to Neutral
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Goldman Sachs analyst Brian Lee downgraded Canadian Solar (NASDAQ: CSIQ) from Buy to Neutral with a price target of $48.00 (from $43.00).
The analyst comments "We downgrade shares of CSIQ to Neutral (from Buy) and revise our 12-month price target to $48 (from $43 prior). Although we remain constructive on the broader outlook for the solar space, we now see limited upside in the near-term for CSIQ shares given the stock’s recent rally, limited catalysts in the early part of 2021 and a gross margin recovery that could take well into 2H21, and thus limit earnings upside potential for the time being. With only modest downside to our new target, we see better risk-reward elsewhere in our coverage. Since being added to the Americas Buy List on 1/3/19, CSIQ shares are up 248% vs. RUT +48%."
Shares of Canadian Solar closed at $51.85 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change, Downgrades
Related EntitiesGoldman Sachs, Earnings
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