#5 - Canadian Solar (NASDAQ:CSIQ)
Investors looking for some international exposure should consider Canadian Solar (NASDAQ:CSIQ). The company has a business model similar to First Solar but operates in the Canadian market. CSIQ stock is up 36% in 2022 and continues to show strong growth in revenue and earnings. The company has two long-term Operations & Maintenance Deals the company signed with two solar PV plus battery storage projects in the United States.
However, the outlook for Canadian Solar is similar to other companies in this sector. That is, how much growth is left? The stock is bumping against the consensus estimate despite delivering revenue growing sequentially and year-over-year.
And investors also will need to mull the analysis of Goldman Sachs (NYSE:GS), which is questioning the impact of the company’s aggressive expansion plans on its free cash flow, particularly as the company’s average selling price is likely to continue sliding in 2023 and beyond.
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
- $11.91
- Consensus Rating
- Hold
- Ratings Breakdown
- 4 Buy Ratings, 3 Hold Ratings, 3 Sell Ratings.
- Consensus Price Target
- $19.94 (67.4% Upside)
