If you missed out on the First Solar has had, and regret it, here is another solar stock that may be poised for some excellent gains. Canadian Solar is a China based (beats me!) solar company that is not yet profitable but shows signs of promising growth. Here are some of the numbers:
>>Market capitalization of $256 million is less than 2007 revenues and half of projected 2008 revenues. First Solar, FSLR, has a market cap of $11 billion and revenues of $240 million.
>>Although not yet profitable, Canadian Solar is expected to earn $1.10 a share in 2008 giving a forward price-to-earnings (PE) ratio of less than 9. First solar has a current PE of 170 and a forward PE of 107.
>>First Solar stock is over $150 per share, Canadian Solar trades currently for less than $10. (This is kind of a meaningless stat, but I put it in anyway, share price has little to do with a company’s value)
No doubt First Solar has been a star for investors and the company continues to show outstanding growth of revenue and earnings. But if you are looking for a company that is where First Solar was a couple of years ago, Canadian Solar deserves a look. Canadian Solar trades on the NASDAQ under the symbol CSIQ.
