Canadian Solar

CSIQ · NASDAQ

$9.77+$0.20 (+2.09%)TodayMarket closed · Oct 20, 7:47 PM ET

Prev close $9.57

CSIQ analyst rating

HoldConsensus of 10 analysts over the last 12 months. 20% rate it a buy.

Strong buy0
Buy2
Hold6
Underperform1
Sell1

12-month price target · 14 analysts

Average $16.76 (+71.5% upside)

Low: $5.64
Now: $9.77
High: $26.25

Upgrades and downgrades

The latest rating actions, newest first

CSIQ analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
JP Morgan	Oct 19, 2026	Maintains	Underweight	$9.00 → $8.00	48%
UBS	Oct 14, 2026	Maintains	Buy	$25.00 → $16.00	45%
Wells Fargo	Aug 31, 2026	Maintains	Equal-Weight	$18.00 → $17.00	35%
Mizuho	Aug 28, 2026	Maintains	Neutral	$18.00 → $17.00	44%
GLJ Research	Aug 27, 2026	Maintains	Sell	$5.58	64%
Citigroup	Jul 22, 2026	Upgrade	Sell → Neutral	$11.00 → $18.00	35%
Mizuho	Jun 15, 2026	Maintains	Neutral	$15.00 → $18.00	44%
Freedom Broker	May 19, 2026	Downgrade	Buy → Hold	$16.00	40%
Wells Fargo	Apr 8, 2026	Maintains	Equal-Weight	$23.00 → $17.00	44%
Roth Capital	Mar 23, 2026	Maintains	Neutral	$30.00 → $15.00	39%

The case for and against

Updated Jan 18, 2025

Bull case

Canadian Solar Inc. is poised for growth due to its significant contributions from the E-STORAGE segment, with an increased battery shipment target of 6,750 MWh, reflecting a strategic focus on expanding revenue and profitability. The company’s robust 5.0 GW project development pipeline in its Recurrent Energy segment enhances its resilience amidst market challenges, particularly the oversupply in solar module sales. Furthermore, improved manufacturing cost efficiencies and a favorable market position in the U.S., characterized by higher margins, position Canadian Solar favorably in an evolving solar landscape.

Bear case

Canadian Solar Inc. has reported weaker-than-expected performance metrics, including Q4 revenues projected at $2.3 billion, which is approximately 4% below prior consensus, driven by module shipments of about 10.3 GW and battery shipments of 2.6 GWh that also fell short of earlier forecasts. The company experienced significant declines in its Recurrent Energy segment's revenues and gross margins, plummeting from $360 million with a 43.9% gross margin in Q2 to only $53.8 million and a 27.7% margin in Q4, indicating severe operational challenges. Additionally, reduced guidance for 2024 module shipments and revenue, compounded by macroeconomic weaknesses and potential oversupply in the global solar market, suggests a troubling outlook for Canadian Solar's financial performance.

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