Citi analyst Vikram Bagri downgraded Canadian Solar (CSIQ) to Sell from Neutral with a price target of $11, down from $19, ahead of the Q3 results and U.S. elections. Canadian Solar will face a different set of challenges under either administration, the analyst tells investors in a research note. The firm says higher domestic tariffs, potential strain on liquidity from capex, lower volumes, and lower storage margins “pose downside from current levels.” A Republican win would likely increase the risk of more tariffs while a Democratic win will likely raise capex, contends Citi.
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