Canadian Solar gains after Mizuho upgrades to 'neutral'

Canadian Solar

17/03/2026 12:02

** Canadian Solar CSIQ.O rises 2.9% to $18.56 premarket after Mizuho upgrades stock to "neutral" from "underperform"

** Brokerage says sharp fall in CSIQ shares since November and underperformance due to "Prohibited Foreign Entity" status seem overdone

** Cuts PT to $19 from $21, citing lower volumes and increased cash outflows tied to its U.S. factory investment, partially offset by 45X tax credits

** New PT represents an upside of 5.3% to stock's last close

** "Near-term catalysts include taking over U.S. factory ownership (or sale), to comply with foreign entity rules, but upside is limited based on comparables," brokerage says

** Separately, CSIQ says its energy storage unit, e‑STORAGE, has signed a supply deal with a major U.S. utility for a large battery project to support data center power reliability

** Three of 12 brokerages rate the stock "buy" or higher, five "hold" and four "sell" or lower; their median PT is $19.6 - LSEG-compiled data

**  As of last close, CSIQ down 24.1% YTD

 (Reporting by Varun Sahay in Bengaluru)

 ((Varun.sahay@thomsonreuters.com))