This Canadian Solar Analyst Is Bullish About A Bright Future, Citing IRA Incentives
Portfolio Pulse from Priya Nigam
UBS analyst Jon Windham has upgraded Canadian Solar Inc (NASDAQ:CSIQ) from Neutral to Buy, raising the price target from $48 to $50. The company's Recurrent Energy solar and storage project development business is expected to generate 41% YoY revenue growth in 2023. The growth is supported by an acceleration in U.S. utility scale solar installations. Canadian Solar is also set to benefit from Inflation Reduction Act incentives through its Recurrent Energy development business and planned 5GW module assembly facility in Texas.
July 06, 2023 | 3:06 pm
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UBS analyst Jon Windham has upgraded Canadian Solar Inc (NASDAQ:CSIQ) from Neutral to Buy, raising the price target from $48 to $50. The company is expected to see significant revenue growth in 2023 and benefit from Inflation Reduction Act incentives.
The upgrade from UBS, along with the raised price target, indicates a positive outlook for Canadian Solar. The expected 41% YoY revenue growth in 2023 and benefits from Inflation Reduction Act incentives are likely to have a positive impact on the company's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100