Canadian Solar is a Mainstream Solar Stock to Watch

Canadian SolarSolar 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.

Key Data:

  • 1 Year Price Growth: 45%
  • YTD Price Growth: -19.20%
  • 3 Month Price Growth: 10%

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