Roth MKM lowered the firm’s price target on Canadian Solar to $20 from $25 but keeps a Buy rating on the shares. The firm cites the company’s “mixed” Q2 results and “weak” Q3 outlook, along with its management lowering its 2024 module shipments and revenue guide as well as its capacity targets, the analyst tells investors in a research note. Roth MKM adds however that storage remains a point of differentiation for Canadian Solar as the company is able to maintain high-teens % margins despite continued module pricing pressure.
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