alingtonsky
Forumer storico
November 6, 2008, 9:28 am
Canadian Solar (CSIQ) shares are trading lower in early trading after Piper Jaffray analyst Jesse Pichel cut his rating on the stock to Neutral from Buy, and sliced his price target on the shares to $11 from $30. He also cut his 2008 EPS estimate for the company to $1.97 from $2.51; for 2009 he goes to $1.34 from $2.84.
The more cautious stance and lower earnings estimates reflect the rapid depreciation of the Euro against the dollar and “the resulting supply chain dislocation that will result in weak Q4 results throughout the industry.” He cut his Q4 ASP estimate to $3.45/watt from $4.08.
Pichel says that tier-two manufacturers without scale or cost advantages are more at risk in the current environment - and he says CSIQ fits into that category.
http://blogs.barrons.com/techtrader...ian-solar-piper-cuts-rating-target-estimates/
Canadian Solar (CSIQ) shares are trading lower in early trading after Piper Jaffray analyst Jesse Pichel cut his rating on the stock to Neutral from Buy, and sliced his price target on the shares to $11 from $30. He also cut his 2008 EPS estimate for the company to $1.97 from $2.51; for 2009 he goes to $1.34 from $2.84.
The more cautious stance and lower earnings estimates reflect the rapid depreciation of the Euro against the dollar and “the resulting supply chain dislocation that will result in weak Q4 results throughout the industry.” He cut his Q4 ASP estimate to $3.45/watt from $4.08.
Pichel says that tier-two manufacturers without scale or cost advantages are more at risk in the current environment - and he says CSIQ fits into that category.
http://blogs.barrons.com/techtrader...ian-solar-piper-cuts-rating-target-estimates/
