Canadian Solar upgraded at J.P. Morgan, buoyed by take-private offer

|About: Canadian Solar Inc. (CSIQ)|By:, SA News Editor

Canadian Solar (NASDAQ:CSIQ) +2.5% premarket after J.P. Morgan upgrades shares to Neutral from Underweight with a $15 price target, saying the company’s take-private offer could lift the shares.

JPM analyst Paul Coster says CSIQ's risk/reward appears balanced as challenging fundamentals may be offset by planned project sales, scaling back on capacity expansion, and the CEO's take-private bid.

Coster trims his CSIQ earnings estimates to better reflect China policy changes but says risks appear priced in.

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