Canadian Solar (CSIQ) PT Raised to $17 at Cowen Following 2Q
Cowen raised its price target on Canadian Solar (NASDAQ: CSIQ) to $17.00 (from $16.00) while maintaining a Market Perform rating following the company's 2Q. Revenue of $692.4mn came in above the consensus estimates of $628.0mn. Adjusted EPS of ($0.15) was below the consensus of $0.00.
The outlook for 2017 remains healthy with the continuation of strong demand in China, Japan, and the U.S. has resulted in reiterated guidance for the year, the 703MW (6 projects) sale in CA may be pushed out to 1Q18.