Sadif Issues Summary Due Diligence Report on Canadian Solar Inc.(NASDAQ:CSIQ)

On September 29 Sadif Newsletter  & Investment Management Portal Issued a Summary Due Diligence Report on Canadian Solar Inc.(NASDAQ:CSIQ) titled ”Is There Long-Term Value in Canadian Solar Inc.?”

The report states that ”Canadian Solar Inc. is a high quality company with a neutral outlook.Canadian Solar Inc. has strong business growth and is run by efficient management. The trend in Canadian Solar Inc. fair value exchange rate against its closest rated-competitor, Amkor Technology, Inc., has been appreciating over the past 2 weeks. When compared to its closest peer, Hanwha Q Cells Co Ltd -ADR, Canadian Solar Inc. shows less overvaluation and is more likely to outperform the market.”

Canadian Solar Inc.(NASDAQ:CSIQ) is one of the world’s largest and foremost solar power companies. As a leading manufacturer of solar photovoltaic modules and a provider of solar energy solutions, Canadian Solar has a geographically diversified pipeline of utility-scale power projects. In the past 14 years, Canadian Solar has successfully deployed over 11 GW of premium quality modules in over 70 countries around the world. Furthermore, Canadian Solar is one of the most bankable companies in the solar industry, having been publically listed on NASDAQ since 2006. For additional information about the company, visit the website or follow Canadian Solar on LinkedIn.

On price targets the report stated ”We use our estimates and outperformance rating (SMO) toderive Canadian Solar Inc.?s price target. We do not take a view on the market trend. Investors expecting the market to rise (or fall) significantly should increase (decrease) the price target accordingly.

Chart 16 shows that we expect the stock price to appreciate by 1.945 in absolute terms to reach 17.66. And, in relation to its current level (15.7200), we estimate a potential gain of 12.4% over the coming year. The lower and upper bounds shown suggest good price target reliability.”

Sadif concluded that ”The company’s share price has declined significantly over the past year, but we believe underlying fundamentals to be the primary determinant of long-term performance. A StockMarks analysis of Canadian Solar Inc. reveals a company with a high quality and strong long-term business growth. The likelihood of Canadian Solar Inc. stock to outperform the market ??as measured by the Outperformance.

StockMark (SMO) is well above average with a rating of 86 / 100. The market risk associated with holding the shares ??as measured by the Volatility StockMark (SMV) ??is well below average with a rating of 84 /100. Overall, we believe Canadian Solar Inc. to be an average long-term investment.

On September 24 CSIQ announced it has released its 2014 Corporate Social Responsibility (CSR) report. The CSR report shows our commitment to sustainable social and environmental development. Our 2014 CSR report strictly follows the international standard for sustainability reports, the Global Reporting Initiative (GRI) G4, and demonstrates Canadian Solar’s firm commitment to making the difference.

Some of the highlights of Canadian Solar’s CSR 2014 report include: Platform for sustainable growth strengthened by a 79% increase in revenue 2014. Factory water consumption reduced by about 50% in Luoyang Plant. CO2 emissions dropped by more than 15% per kWh since 2011. Energy generation from own PV plants increased by over 300% Ranked #1 for corporate social responsibility at Randstad Awards Canada 2014. Ranked #4 out of 150 corporations for Most Attractive Employer in Canada. While the bulk of the report reviews Canadian Solar’s social, economic and environmental sustainability efforts over the last few years, it is also a forward-looking document.

CEO Dr. Shawn Qu. said “Whatever technological bottlenecks we are currently pushing against, energy storage and photovoltaic efficiency will doubtlessly see big technology advancements in the coming years. This in turn will help our global effort fighting against climate change and improve the well-being of people in the world.”


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