Canadian Solar price target lowered to $15 from $20 at Roth MKM

Roth MKM lowered the firm’s price target on Canadian Solar (CSIQ) to $15 from $20 and keeps a Buy rating on the shares. The company’s Q3 results were “mixed” and its Q4 guide was “weak”, while the management introduced a lower-than-expected 2025 module shipment guide but a strong 2025 battery shipments guide, the analyst tells investors in a research note. The company may be able to maintain margins despite ongoing pricing pressure, though while the management sees multiple pathways to address the increased tariff risk, the firm sees further U.S. protectionism and FEOC – foreign entities of concern – as “primary risks ahead”.