Canadian Solar price target raised to $16.43 from $12.22 at GLJ Research

GLJ Research analyst Gordon Johnson raised the firm’s price target on Canadian Solar to $16.43 from $12.22 and keeps a Sell rating on the shares. The firm continues to see “significant solar industry risk this year” as it contends that a number of solar stocks have “stale” earnings estimates and that “many” need to be adjusted lower. GLJ adds that it sees Canadian Solar as “among the best-positioned shorts in the space given its outperformance of many stocks in our solar coverage universe.”