BUZZ-Canadian Solar rises after Mizuho initiates coverage with 'outperform'

Reuters12-13
BUZZ-Canadian Solar rises after Mizuho initiates coverage with 'outperform'

** Mizuho initiates coverage on solar power and battery company Canadian Solar CSIQ.O with "outperform" rating, price target of $20

** PT implies a 62% premium to stock's last close, sending CSIQ shares up 1.9% to $12.62 in premarket trading

** Says company's energy storage business is a growth engine that helps offset weaker solar margins

** Brokerage expects U.S. import tariffs and global solar oversupply to eat into CSIQ's margins in 2025 but expects a recovery in 2026/2027 as co expands U.S. manufacturing

** Mizuho says expanding U.S. solar manufacturing will help CSIQ navigate solar tariffs

** 7 of 13 brokerages rate the stock "buy" or higher, 3 "hold," and 3 "sell" or lower; their median PT is $14.15 - data compiled by LSEG

** Up till last close, stock down 52.8% YTD

(Reporting by Pooja Menon in Bengaluru)

((Pooja.Menon@thomsonreuters.com;))

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