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CSIQ's bullishness has been boosted by improving company fundamentals, higher revenue guidance, capital expansion funds generated through follow-on offerings, and volatility in the price of oil. Going forward, on the back of solar panel sales growth in various global markets, extension of product lines, material cost savings through the company's more vertically-integrated production structure, higher captive generation of solar cells, long-term supply agreements, and a silicon reclamation program should, collectively, generate significant earnings growth.
So, with a predominantly bullish outlook, we maintain our BUY recommendation on CSIQ with a six-month target price of $29.50. Price appreciation to our near-term valuation target represents 94.3% upside potential.
The Bull of the Day is one of the latest Buy recommendations from Zacks Equity Research. Our team of analysts consistently identify stocks set to outperform the market over the next six months. Discover More Bull of the Day stocks.
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