Solar energy is steadily becoming more affordable and more efficient, improving its viability for commercial, industrial, utility, and residential use. Canadian Solar Inc. (NASDAQ: CSIQ) was once a darling of alternative bargain investors. Today, it’s well into the mainstream, and it still has plenty of growth potential.
The company manufactures photovoltaic (solar) modules and provides complete solar energy solutions. Products and services range from solar kits and maintenance services to large-scale solar project development and operation.
The stock’s movement has been negative when looking at it over the year to date, which makes it even more interesting moving towards the second quarter. The company will report quarterly and full-year financials today, which could push the stock upwards. The business has a track record of outperforming expectations, and earnings are expected to increase by 27.7% over the next year.
With an average target price of $49.88 and a high-end target of $71.00, the potential upside makes this a stock to watch.
- 1 Year Price Growth: 45%
- YTD Price Growth: -19.20%
- 3 Month Price Growth: 10%
All information is based on current and historical market data, as well as publicly available financial data. As with any financial decision, your own research is important. Stock market outcomes can never be 100% accurately predicted. Familiarity with historical data, individual industries, and individual stocks is key to developing a robust portfolio. Note that stock prices can fluctuate rapidly during trading sessions.