Canadian Solar’s stock has surged sharply this week. On Oct 14 its share price hit a 52-week high of around $16.00 before closing at $15.72 Marketbeat. This spike was driven by two main headlines: Goldman Sachs unexpectedly raised its CSIQ price target on Oct 9, and news out of China about planned cuts to solar panel capacity. Indeed, Reuters reports that Chinese regulators may soon clamp down on excess PV manufacturing, which sent Chinese solar stocks soaring on Oct 14 Reuters. The ripple effect reached Canadian Solar too: research alerts note that CSIQ “surged by 10%” intraday on Oct 14 after these reports Gurufocus. Overall, the stock is about 28% higher year-to-date, beating the broad market.
