Report published August 27, 2026
Canadian Solar Inc. (CSIQ) 2Q26 First Take: Goldman Sachs Maintains Sell amid Weak 3Q Guidance
Source and citation context
- Issuer
- Goldman Sachs
- Report date
- August 27, 2026
- Analysis as of
- August 26, 2026
Authors / editors: Brian Lee, CFA, Tyler Bisset, CFA, Keshav Choudhary
Finvaulta summarizes Goldman Sachs's analysis. Attribute opinions, forecasts, time-sensitive values, and chronology to the issuer and report date; do not treat this page as an independent verification or a current market-data source.
Canadian Solar reported mixed 2Q26 results, beating revenue estimates ($1,208mn vs. consensus $1,167mn) but missing on EPS (($1.40) vs. consensus ($1.24)). 3Q26 guidance for revenue and module shipments came in significantly below expectations, supporting Goldman Sachs' Sell rating and $11 price target.
Key Takeaways
- 1.CSIQ provided weak 3Q26 revenue guidance of $1.3bn-$1.5bn (vs. GSe/consensus of $2.1bn/$1.6bn) and module shipment guidance of 3.5GW-3.8GW (vs. GSe ~6.6GW).
- 2.2Q26 results were mixed as revenue of $1,208mn beat estimates, but EPS of ($1.40) missed GSe/consensus of ($1.21)/($1.24).
- 3.Goldman Sachs maintains a Sell rating and a 12-month price target of $11.00 on CSIQ, implying ~20.7% downside from the current price of $13.87.
Table of Contents
- Disclosure Appendix
- Reg AC
- GS Factor Profile
- M&A Rank
- Quantum
- Disclosures
- Company-specific regulatory disclosures
- Distribution of ratings/investment banking relationships
- Price target and rating history chart(s)
- Target price history table(s)
- Regulatory disclosures
- Ratings, coverage universe and related definitions
- Global product; distributing entities
- General disclosures
Report data
Sell Rating and GS Forecast Summary — as of August 26, 2026.
| Metric | Estimate | Context |
|---|---|---|
| 2Q26 Revenue | 1208 USD millions | Above GSe/FactSet consensus of $1,142mn/$1,167mn |
| 2Q26 EPS | -1.40 USD | Missed GSe/consensus of ($1.21)/($1.24) |
| 3Q26 Revenue Guidance (Midpoint) | 1.4 USD billions | Guidance range $1.3bn-$1.5bn vs GSe/consensus $2.1bn/$1.6bn |
| 12-Month Price Target | 11.00 USD | Goldman Sachs 12m price target implying 20.7% downside |
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Authors / Editors
Reported Data Context
- 2Q26 Revenue: 1208 USD millions (2Q26) · Source: FactSet
- 2Q26 EPS: -1.40 USD (2Q26) · Source: FactSet
- 3Q26 Revenue Guidance (Midpoint): 1.4 USD billions (3Q26) · Source: Company data
- 12-Month Price Target: 11.00 USD (12-month) · Source: Goldman Sachs Research estimates
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