#4 - Canadian Solar (NASDAQ:CSIQ)
Like metal and mining stocks, Canadian Solar Inc. (NASDAQ: CSIQ) may be more of a cyclical play, but it’s one to keep an eye on. The company has a large pipeline of solar and battery energy storage positions.
Renewable energy stocks are supposed to fall out of favor in the Trump administration. But this may not be true for all sectors. For example, although there’s talk of clawing back some of the unspent funds in the Inflation Reduction Act, industry analysts believe the tax credits for solar systems are likely to stay in place.
Canadian Solar does have heavy exposure to China, which is something for investors to watch as the stock also has short interest of over 20%. However, the company has positive cash flow, and analysts expect earnings growth of over 1,000%. That tracks with a consensus price target of $22.03, which is more than an 84% upside in the next 12 months.
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
- $11.50
- Consensus Rating
- Hold
- Ratings Breakdown
- 5 Buy Ratings, 2 Hold Ratings, 4 Sell Ratings.
- Consensus Price Target
- $18.58 (61.6% Upside)
