- Canadian Solar (CSIQ +0.2%) is downgraded to Market Perform from Outperform with a $12 price target, slashed from $23, at FBR, after CSIQ's "decent" Q3 results despite a weak solar market, but CSIQ cut FY 2016 guidance on higher than expected pricing pressure, as module volumes surprisingly are constrained by manufacturing issues.
- The firm says ramping project sales could prove a catalyst, but it prefers to wait and see both the pace and ultimate sales price before acknowledging that the worst of the downturn is over.
- CSIQ also is downgraded to Neutral from Buy with an $11 price target, cut from $20, at Roth Capital.