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Canaccord Raises Price Target On Canadian Solar (CSIQ) By A Buck
Canaccord Adams is raising its price target on CSIQ from $43 to a whopping $44 and reiterates its BUY rating according to StreetInsider.com. Why the big jump in price target you ask?
Canaccord liked the recent quarter results and noted that the earnings were at the high end of its pre announcement. The firm also likes the fact that it already has all of this year’s plans funded and 70% of its supply coverage for its capacity guidance of 500 – 500 MW. With its low capital needs the company has one of the highest returns on investment capital in the industry.
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