Bruce Jefferson
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Bruce Jefferson in Commodities,

3 Reasons To Ignore 'Overwhelming' Cynicism On Canadian Solar

Solar stocks are volatile investments, as they carry a high level of headline risk. Shares of Canadian Solar Inc. CSIQ tanked Thursday after the company released its fiscal third quarter results.

One analyst is upbeat about the company's prospects due to an anticipated business transformation.

The Analysis 

Roth Capital Partners' Philip Shen issued an upgrade note Friday.

The Rating

Shen upgraded shares of Canadian Solar from Neutral to Buy and lifted its price target from $15 to $24, citing the business transformation he projects will take place over the next six months. Source

Looks like some consolidation is possible.