Canadian Solar (CSIQ) Higher Ahead of Tomorrow's Earnings Report

Canadian Solar Inc. (Nasdaq: CSIQ) is nearly 4% higher today ahead of Q1 results due before the open tomorrow. On average, analysts are looking for EPS of $0.31 and revenues of $151.9 million.

Last quarter, CSIQ had a beat and raise quarter. The stock is up 77% since the robust report.

Wall Street expects another strong quarter for CSIQ. Collins Stewart sees EPS of $0.32 and revenues of $149.2 million, basically in-line with the street consensus. The firm said demand in the solar market was strong in Q1 and said the company should have been able to sell all the modules they produced. The firm said the key challenge facing the company and other vendors has been obtaining adequate quantities of polysilicon. The firm has a Buy rating and $31 price target on CSIQ.

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