Canadian Solar (CSIQ) Tops Q4 EPS Views; Guides Q1, FY16
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Roth Cuts PT on Canadian Solar (CSIQ) to $28; Strong Q4 Offset by Weak Outlook
March 11, 2016 2:42 PM ESTRotth Capital reaffirms Canadian Solar (Nasdaq: CSIQ) with a Buy rating, but cuts its price target from $40 down to $28 following the company's Q4 results and outlook issued on Thursday.
Analyst Philip Shen offered the following commentary: Heading into the quarter, street expectations for margins were 16-17% for 2016 (vs. ROTHe of 14.9%). The company likely spooked investors with its Q1 guide of 12-14%. A key driver of the lower margins is the companys inverted pyramid structure (400-MW of wafer, 2.7GW of cell, and 4.3GW of module)... More
