Canadian Solar +6.4% on Q1 guidance hike

Canadian Solar (CSIQ) now expects Q1 revenue of $460M-$470M, above prior guidance of $415M-$430M and a $422.8M consensus.

Module shipments are now expected to total 490MW-500MW, above prior guidance of 470MW-490MW. Gross margin is expected to be in the lower half of a prior range of 14%-16%.

Q1 results arrive on May 16. Canadian's guidance hike comes in spite of warnings from Yingli and Trina - two other module providers with heavy Chinese exposure. JinkoSolar affirmed its Q1 guidance yesterday.

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