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NEW YORK (TheStreet) -- Canadian Solar (CSIQ) - Get Report has been upgraded by TheStreet Ratings from Hold to Buy with a ratings score of B-.  TheStreet Ratings Team has this to say about their recommendation:

TheStreet Ratings team rates CANADIAN SOLAR INC as a Buy with a ratings score of B-. TheStreet Ratings Team has this to say about their recommendation:

"We rate CANADIAN SOLAR INC (CSIQ) a BUY. This is driven by a number of strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its robust revenue growth, notable return on equity, attractive valuation levels, impressive record of earnings per share growth and compelling growth in net income. We feel these strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated."

Highlights from the analysis by TheStreet Ratings Team goes as follows:

• CSIQ's very impressive revenue growth greatly exceeded the industry average of 10.7%. Since the same quarter one year prior, revenues leaped by 84.1%. Growth in the company's revenue appears to have helped boost the earnings per share.
• CANADIAN SOLAR INC reported significant earnings per share improvement in the most recent quarter compared to the same quarter a year ago. The company has demonstrated a pattern of positive earnings per share growth over the past two years. We feel that this trend should continue. During the past fiscal year, CANADIAN SOLAR INC increased its bottom line by earning $4.05 versus $0.56 in the prior year. This year, the market expects an improvement in earnings ($4.17 versus $4.05).
• The net income growth from the same quarter one year ago has significantly exceeded that of the S&P 500 and the Semiconductors & Semiconductor Equipment industry. The net income increased by 261.6% when compared to the same quarter one year prior, rising from $20.95 million to $75.74 million.
• The company's current return on equity greatly increased when compared to its ROE from the same quarter one year prior. This is a signal of significant strength within the corporation. Compared to other companies in the Semiconductors & Semiconductor Equipment industry and the overall market, CANADIAN SOLAR INC's return on equity significantly exceeds that of both the industry average and the S&P 500.
• You can view the full analysis from the report here: CSIQ Ratings Report