Canadian Solar shares drop on China fire reports

SAN FRANCISCO (MarketWatch) -- Shares of solar-panel maker Canadian Solar Inc. (CSIQ) declined 3.8% to $37.77 Friday following news of a factory fire earlier in the week. The fire in a plant in Suzhou, China, on Monday had not been disclosed and was referenced Friday on multiple Chinese websites, analysts with Roth Capital Partners said in a note to clients late Friday.c "We'd be buyers on weakness in the stock today," they said. "The company believes disruption to customer delivery schedules has been minimal and expects no material financial impact from the fire." No Canadian Solar (CSIQ) employees or fire responders were reported injured. Canadian Solar (CSIQ) is one the best performing solar stocks, up 768% in the past 12 months.

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