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Canadian News
Upgrading Canadian Solar - Barclays Capital Comments
11/3/2009 4:36 PM ET
(RTTNews) -
Barclays Capital analyst Vishal Shah upgraded his investment opinion on shares of Canadian Solar (CSIQ: News ), based in part on better prospects for the company to receive financing for its projects.
On the news, the stock rallied $1.72, or 11.7%, to close at $16.41.
Shah raised his rating from Underweight to Equal Weight. He said that the stock has a more balanced risk-reward profile due to "robust near term fundamentals, improving bankability situation (ability to secure project financing) and relatively attractive valuation."
Shah also raised his price target to $16 from $11.50.
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by RTT Staff Writer
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