Citigroup Downgrades Canadian Solar to Sell, Lowers Price Target to $11
Portfolio Pulse from Benzinga Newsdesk
Citigroup analyst Vikram Bagri has downgraded Canadian Solar (NASDAQ:CSIQ) from Neutral to Sell and reduced the price target from $19 to $11.
October 22, 2024 | 12:30 pm
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Citigroup has downgraded Canadian Solar from Neutral to Sell, significantly lowering the price target from $19 to $11, indicating a bearish outlook.
The downgrade from Neutral to Sell by a major financial institution like Citigroup, along with a substantial reduction in the price target, suggests a negative outlook for Canadian Solar. This is likely to lead to a decrease in investor confidence and a potential drop in the stock price in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100