Canadian Solar (CSIQ) shares tumbled 5.17% in pre-market trading on Friday, as investors reacted to a significant downgrade from Roth Capital. The solar energy company's stock faced pressure after Roth lowered its rating from Buy to Neutral, signaling a shift in their outlook for the company's near-term prospects.

Adding to the bearish sentiment, Roth also substantially reduced its price target for Canadian Solar from $15 to $9. This represents a 40% cut in the expected value of the stock, which likely contributed to the sharp pre-market sell-off. The downgrade and price target reduction suggest that Roth analysts have become more cautious about Canadian Solar's growth potential or financial performance in the coming periods.

Despite this negative action from Roth, the overall analyst consensus for Canadian Solar remains at a "hold" rating. According to FactSet data, the mean price target for CSIQ stands at $12.54, which is still significantly higher than Roth's new target. However, investors appear to be weighing the latest downgrade heavily, as reflected in the pre-market stock movement. As the trading day progresses, it will be interesting to see if this pre-market plunge persists or if other factors come into play to influence the stock's performance.