#4 - Canadian Solar (NASDAQ:CSIQ)
Sticking with solar stocks, investors can turn their attention north of the U.S. border and consider an investment in Canadian Solar (NASDAQ: CSIQ). Like Sunrun, Canadian Solar is a pure-play on the solar sector. And like Sunrun, the stock has been beset by the hot and cold attention paid to renewable energy stocks.
The company is one of the world’s largest manufacturers of all things solar. But it also provides advanced energy storage solutions. For example, the company has partnered with Habitat Energy to utilized Habitat’s AI-enabled battery optimization and dispatch services.
Canadian Solar released its second-quarter earnings on August 12, 2021, and it pleased investors. Not only did revenue increase to 1.43 billion. The 105% year-over-year increase fell comfortably in the range of $1.4 billion to $1.5 billion forecast by analysts.
And in terms of gross margin and net income, the story was even better. After an initial dip in after-hours trading, the stock turned positive. That is in line with the opinion of analysts who are forecasting CSIQ stock to have a 12-month price target of $54 which would be a gain of nearly 30% (29.81%) from the stock’s current level.
About Canadian Solar
Canadian Solar Inc, together with its subsidiaries, provides solar energy and battery energy storage products and solutions in in Asia, the Americas, Europe, and internationally. The company operates through two segments, CSI Solar and Recurrent Energy. The CSI Solar segment designs, develops, and manufactures solar ingots, wafers, cells, modules, and other solar power and battery storage products.
Read More - Current Price
- $11.30
- Consensus Rating
- Hold
- Ratings Breakdown
- 3 Buy Ratings, 3 Hold Ratings, 3 Sell Ratings.
- Consensus Price Target
- $20.59 (82.2% Upside)
