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Opinions Stockchase Insights
Canadian Solar Inc.CSIQBUY ON WEAKNESSAug 23, 2023
Stockchase InsightsUnknown
$26.89
Stock price when the opinion was issued
$16.27
As of Jun 18, 2026. Market Open.
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Premium contentPAST TOP PICK
Premium contentTOP PICK
Stockchase Research Editor: Michael O'Reilly
Trading at 5x earnings, under book value and with an 18% ROE, CSIQ is a TOP PICK. The 22 year old Guelph Ontario solar manufacturer recently reported earnings that doubled over year ago levels and a 39% increase in revenues. We recommend a stop-loss at $21, looking to achieve $41 -- upside potential of 49%. Yield 0%
(Analysts’ price target is $41.08)other mines
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TOP PICK
Chinese-based solar panel manufacturer. Want to participate in the new Ontario feed-in tariff program and have a new Kitchener head office. With feed-in declines this industry is growing very effectively so solar is doing fine and this is a good company.
Peter HofstraOwned
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Canadian Solar shipments rose 62% to 8.2 gigawatts of modules in 2Q, reaching the midpoint of guidance, and could rise more than 40% to 30-35 GW for the year due to global demand. Sales were roughly flat in 2Q at $2.4 billion, affected by pricing pressure that could also crimp 3Q sales despite guidance calling for higher volumes. Yet full-year guidance ($9-$9.5 billion) is still probably achievable. Gross margin expanded to 18.6% in 2Q vs. 16% a year earlier, yet was flat sequentially. The company's battery rollout, which has a robust utility-scale pipeline of about $2.1 billion in 2Q, could ramp up further as management expects annual production capacity to grow to 10 gigawatt-hours (GWh) from 2.5 GWh by year-end. For the quarter EPS of $2.39 beat estimates of $152, and sales of $2.36B missed estimates of $2.47B.
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