Canadian Solar slides after Mizuho cuts PT on muted outlook

Shares of Canadian Solar CSIQ.O down 6.8% to $13.29 after Mizuho cuts PT following Q1 muted outlook and lower international volumes

Brokerage cuts PT from $19 to $15, which is still a 5.1% upside to the stock's last close

The company has been talking about a challenging environment for solar for a while now, driven by fierce competition in China, and continues to prioritize markets with better pricing and margins, Mizuho says

However, there is a silver lining - the company is working through major overhangs on the stock for its US operations, brokerage adds

Three of 12 analysts rate stock "strong buy" or "buy", five "hold" and four "sell" or "strong sell"; their median PT is $17- data compiled by LSEG

Including session's move, CSIQ down 43.9% YTD