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10 Solar Stocks Analysts Favor

10. Canadian Solar (CSIQ) is a vertically integrated provider of ingot, wafer, solar cell, solar module and other solar applications.

For third quarter of 2010, net revenue was $453 million compared to $254 million for the same quarter in 2009. Net income for the reporting quarter was $26 million against a net loss of $15.6 million in the year-ago quarter. Annual solar panel shipments rose to 237 MW from 141 MW in 2009 fourth quarter.

Actual sales for fourth quarter were 8.3% higher than analysts' estimates, whereas actual earnings per share fell 5% below analysts' estimates.

As part of its market diversification strategy, the company has increased sales to the Asia-Pacific and North America. Nonetheless, Europe remains the company's highest revenue contributor.

The stock has 31% buy ratings and is expected to deliver 10% return in the next one year. The stock is trading at 7.2 times its estimated 2011 earnings.

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