Canadian Solar hikes shipment forecast

Tue Feb 21, 2012 4:16pm EST
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(Reuters) - Canadian Solar (CSIQ.O: Quote) raised its fourth-quarter forecast shipments on Tuesday because of stronger-than-expected demand, but said profit margins would remain unchanged from the previous level.

The move comes just days after its larger Chinese rival, Suntech Power Holdings STP.N, hiked its fourth quarter forecast.

Canadian Solar said it now expects shipment between 430 to 440 megawatts, up from its forecast in November of 340 to 360 MW.

(Reporting By Matt Daily; Editing by Bernard Orr)