Actionable news
All posts from Actionable news
Actionable news in CSIQ: Canadian Solar Inc.,

Here’s Why FBR Trimmed Price Target on Canadian Solar Inc. (CSIQ)

Canadian Solar Inc. (NASDAQ:CSIQ) shone through a weakening solar market, meeting the challenge and rising above with a strong second-quarter that exhibited key metrics ahead of expectations.

FBR analyst Carter Driscoll reiterates an Outperform rating on shares of CSIQ, while reducing the price target from $32 to $23, which represents a 73% increase from where the shares last closed.

The solar power leader came in for the quarter with revenue of $805.7 million and gross margin of 17.2%, topping its guidance of $710 million to $760 million for revenue and 15% to 17% gross margin. Yet, the company forecasts weak third-quarter guidance...