Mizuho Reiterates 'Outperform' Rating on Canadian Solar (CSIQ) on Tariff Clarity Impact

Canadian Solar Inc. (NASDAQ:CSIQ) is one of the green energy stocks with long-term upside potential. On August 22, Mizuho reiterated an ‘Outperform’ rating on the stock but cut its price target to $15 from $17.

The price cut follows disappointing second-quarter results, in which Canadian Solar reported a loss of $0.53 per share, worse than the expected earnings of $1.48 per share. Revenue, on the other hand, totaled $1.7 billion, missing estimates of $1.93 billion. The disappointing results were attributed to delayed project sales and energy storage shipments.

Nevertheless, the company’s gross margin increased due to a favorable US sales mix and one-time project sales. Mizuho remains optimistic about Canadian Solar’s prospects, thus maintaining the outperform rating. That’s in part because shipments are expected to increase in the second half of the year due to tariff clarity.

Canadian Solar Inc. (NASDAQ:CSIQ) is a global renewable energy company that manufactures solar photovoltaic modules, provides solar energy and battery energy storage solutions, and develops, owns, and operates large-scale solar and battery energy storage projects worldwide.

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Disclosure: None. This article is originally published at Insider Monkey.