Canadian Solar Stock Gets An IBD Composite Rating Upgrade

On Tuesday, Canadian Solar (CSIQ) got an upgrade for its IBD SmartSelect Composite Rating from 91 to 97.  It also received a boost to the Relative Strength Rating today.

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The new score means the company is now outperforming 97% of all stocks in terms of the most important fundamental and technical stock-picking criteria. The best stocks tend to have a 95 or better grade as they launch a significant move so be sure to keep that in mind when looking for the best stocks to buy and watch.

Canadian Solar is not currently near a proper entry. See if the stock goes on to complete the right side of the base it is currently forming and offer a new buying opportunity. It has moved higher in strong volume in recent days, a change in character for solar stocks in general.

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The stock has an 85 EPS Rating, which means its recent quarterly and annual earnings growth is outpacing 85% of all stocks.

Its Accumulation/Distribution Rating of A- shows heavy buying by institutional investors over the last 13 weeks.

Earnings News

In Q3, the company reported 167% earnings growth. Revenue growth fell to 57%, down from 62% in the previous quarter.

Canadian Solar earns the No. 2 rank among its peers in the Energy-Solar industry group. Enphase Energy (ENPH) is the top-ranked stock within the group.

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