Canadian Solar price target raised to $17 from $10 at Goldman Sachs

Goldman Sachs analyst Brian Lee raised the firm’s price target on Canadian Solar (CSIQ) to $17 from $10 and keeps a Sell rating on the shares. Canadian Solar’s Q3 results beat expectations driven by accelerated storage deliveries and gross margins exceeded guidance, but management guided Q4 shipments lower than expectations, resulting in revenue guidance for FY25 also being lowered, the analyst tells investors in a research note. Management remains focused on being in compliance with FEOC restrictions and continues to pursue safe harboring efforts, the firm says.