CSIQ Pre-announces Inline Q4 Shipments, Announces Inventory Write-Off

Analysts at ThinkEquity Partners maintain their "buy" rating on Canadian Solar Inc (NASDAQ: CSIQ), while reducing their estimates for the company. The target price for CSIQ is set to $25.

Canadian Solar pre-announced its Q4 shipments ahead of the previous guidance and announced that it would write-off certain slow moving cell inventory. “We understand the price of specialty lighting products has been under pressure and drove the write-down,” the analysts say.

“We continue to view CSIQ as a leading play on low-cost solar manufacturing, with significant earnings leverage,” the analysts add. ThinkEquity Partners has reduced its EPS estimate for 2009 from $1.74 to $1.55.

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