Why Canadian Solar (CSIQ) Stock Is Up Today

NEW YORK (TheStreet) -- Canadian Solar (CSIQ) was gaining 4.6% to $31.15 Monday after announcing a 12.6 MW solar module supply agreement in Turkey.

The solar power company will supply 12.6 MW of photovoltaic modules for a solar power project in Kayseri, Turkey. The solar farm is a joint project of Besler Tekstil Sanayi VE Ticaret AS and Hascelik Group.

"We are very proud to announce this 12.6MW module supply agreement which is our largest deal ever in Turkey, making it a new milestone in this important emerging market," Canadian Solar chairman and CEO Dr. Shawn Qu said in a statement. "It is the second deal we made with the aforementioned customers to whom we supplied 2.2MW of solar modules at the end of last year."

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TheStreet Ratings team rates CANADIAN SOLAR INC as a Sell with a ratings score of D+. TheStreet Ratings Team has this to say about their recommendation:

"We rate CANADIAN SOLAR INC (CSIQ) a SELL. This is driven by a number of negative factors, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its generally high debt management risk and poor profit margins."

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