Mizuho upgraded Canadian Solar (CSIQ) to Neutral from Underperform with a price target of $19, down from $21. The firm cites valuation for the upgrade with the shares down 31% decline since its double downgrade in November. Canadian Solar’s Prohibited Foreign Entity-related underperformance seems overdone, the analyst tells investors in a research note. Mizuho cut the price target to reflect lower volumes and higher cash outflow for the company’s U.S. factory. However, the firm now assumes Canadian Solar can qualify for 45X tax credits as a non-Prohibited Foreign Entity.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CSIQ:
- Options Volatility and Implied Earnings Moves This Week, March 16 – March 20, 2026
- Canadian Solar’s CSI Solar Flags 2025 Profit Slump on Weak Module Shipments, Tariff Pressure
- Canadian Solar delivers first first grid-connected BESS in Japan
- Canadian Solar’s CSI Solar Unit Reshapes U.S. and Thai Operations With Long-Term Related-Party Leases
- Canadian Solar’s e-STORAGE partners with Sunraycer in energy storage project