Zacks Investment Research upgraded shares of Canadian Solar Inc. (CSIQ) from NEUTRAL to OUTPERFORM on November 05, 2014, with a target price of $37.00.
We are upgrading our recommendation on Canadian Solar Inc. to Outperform from Neutral, primarily encouraged by the company's strong cash position, well-expanded operations in different geographies, and the growing demand for solar energy along with the company's increasing order flow. The company's focus on reducing its operation costs along with its initiative to ramp up its scale of operations is commendable. We also appreciate its increasing number of global utility-scale projects. The company had posted impressive results in the second-quarter. The quarterly figure beat estimates and improved year over year, primarily on the back of higher revenues from American operations with revenues from European markets witnessing a significant improvement.
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