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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Canadian Solar Inc.    CSIQ   CA1366351098

CANADIAN SOLAR INC.

(CSIQ)
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U.S. solar stocks rise on Biden's clean energy focus in pre-election debate

10/23/2020 | 08:49am EST
Solar panels are seen next to a Southern California Edison electricity station in Carson

(Reuters) - U.S. solar stocks rose on Friday after U.S. Democratic presidential candidate Joe Biden said in the final pre-election debate on Thursday night that if elected he plans to transition to a more climate-friendly economy.

Shares of Renesola Ltd, Jinkosolar Holding Co Ltd, Canadian Solar Inc and SunPower Corp were up between 2% and 3% in premarket trading.

Biden and President Donald Trump were asked at their matchup in Nashville, Tennessee, what they would do to combat climate change - the first time in a presidential debate they were not asked if they believed in it or not.

Biden said the country should eventually replace oil with solar, wind and other forms of non-polluting power.

"I would transition from the oil industry," Biden said, adding his plan for a more climate-friendly economy would create high-paying jobs and boost U.S. businesses.

Shares of oil companies were broadly unchanged as U.S. crude ticked up 0.4% to $40.79 with demand concerns raised by surging coronavirus cases in the United States and Europe being offset by the prospect of an extension to OPEC-led supply curbs.

After the debate, Biden told reporters, "We're not getting rid of fossil fuels."

"We're getting of the subsidies for fossil fuels. But we're not getting rid of fossil fuels for a long time...they're not going to lose their jobs. Besides, a lot more jobs are going to be created in other alternatives."

Trump, during the debate, cited a federal program to plant trees and a drop in carbon emissions to say he loves the environment, but added he was not willing to harm businesses.

He accused Biden of planning to ban hydraulic fracturing, a process of extracting oil and natural gas from shale that is opposed by many environmentalists. Biden, however, said he would ban fracking on federal land only.

(Reporting by Arunima Kumar in Bengaluru; Editing by Arun Koyyur)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
CANADIAN SOLAR INC. 0.22% 40.53 Delayed Quote.83.39%
ENERGY FOCUS, INC. -0.62% 4.78 Delayed Quote.102.03%
FIRST SOLAR, INC. 0.38% 89.26 Delayed Quote.59.51%
LONDON BRENT OIL 0.51% 49.04 Delayed Quote.-26.08%
SUNPOWER CORPORATION 1.06% 20.91 Delayed Quote.168.08%
SUNPOWER GROUP LTD. 1.36% 0.745 End-of-day quote.20.16%
WTI 0.97% 46.11 Delayed Quote.-25.53%
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Financials (USD)
Sales 2020 3 434 M - -
Net income 2020 109 M - -
Net Debt 2020 846 M - -
P/E ratio 2020 22,4x
Yield 2020 -
Capitalization 2 393 M 2 393 M -
EV / Sales 2020 0,94x
EV / Sales 2021 0,74x
Nbr of Employees 13 478
Free-Float 76,3%
Chart CANADIAN SOLAR INC.
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Canadian Solar Inc. Technical Analysis Chart | CSIQ | CA1366351098 | MarketScreener
Technical analysis trends CANADIAN SOLAR INC.
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 6
Average target price 44,33 $
Last Close Price 40,53 $
Spread / Highest target 23,4%
Spread / Average Target 9,38%
Spread / Lowest Target -13,6%
EPS Revisions
Managers
NameTitle
Shawn Qu Chairman & Chief Executive Officer
Hui Feng Chang Chief Financial Officer, Director & Senior VP
Guo Qiang Xing Chief Technology Officer & Senior Vice President
Yan Zhuang Director
Harry E. Ruda Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
CANADIAN SOLAR INC.83.39%2 393
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ENPHASE ENERGY, INC.399.27%16 481
SOLAREDGE TECHNOLOGIES, INC.186.01%13 928
SUNRUN INC.317.89%11 399
FIRST SOLAR, INC.59.51%9 459