Following Canadian Solar's 13% pullback yesterday in the wake of its Q4 results and "modest" 2016 guidance, Stifel analyst Sven Eenmaa said he viewed the negative reaction as excessive. The pullback means Canadian Solar shares are back to trading with minimal value attributed to the company's expanding downstream operations, Eenmaa tells investors. However, downstream can provide EPS upside if the YieldCo picture does not improve in the near-term, or can expand cash flows that can be monetized if markets do recover, the analyst said. Eenmaa lowered his price target on Canadian Solar to $28 from $31 and keeps a Buy rating on shares.

Wells Fargo notes that a group of seven domestic solar product makers, including First Solar (FSLR), filed a petition to levy anti-dumping and countervailing duties on solar imports from Cambodia, Malaysia, Thailand and Vietnam, looking for duties ranging from 70.4% to 271.5%. The firm, which included the "important reminder" that "this is just a petition," says the uncertainty created by the petition is "incrementally positive" for First Solar and negative for Canadian Solar (CSIQ), Array Technologies (ARRY) and Nextracker (NXT).