Canadian Solar higher on upgrade

Shares of Canadian Solar Inc. (Nasdaq:CSIQ) are a little brighter on news after the close on Tuesday that the solar cell manufacturer was upgraded to “buy” from “hold” by investment bank Lazard Capital Markets. The analysts point to the fact that the China-based company has already secured most of the raw material it needs during fiscal 2008, according to news reports.

At 3:02 p.m. ET, the stock was up $0.51, or 2%, to $21.61. For detailed price information and recent news stories about Canadian Solar, click CSIQ.

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