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UPDATE: Jefferies Raises PT on SunPower Corporation on Continued Tailwinds

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In a report published Friday, Jefferies analyst Scott Reynolds reiterated a Hold rating on SunPower Corporation (NASDAQ: SPWR), and raised the price target from $8.00 to $11.50.

In the report, Reynolds noted, “SPWR continues to see tailwinds in the Japanese market (25% of shipments) and leasing ($541M signed lease capacity). However, investors may be ahead of themselves as a strong 1Q13 was largely attributable to high margin development rev recognized under IFRS accounting rules which will not repeat in 2Q13 and we will see lower margin EPC work pick up in 3Q13. The next catalyst for the shares will be the analyst day on May 15th in NYC.”

SunPower Corporation closed on Thursday at $15.29.

Latest Ratings for SPWR

DateFirmActionFromTo
Jan 2015RBC CapitalUpgradesSector PerformOutperform
Jan 2015Credit SuisseUpgradesNeutralOutperform
Dec 2014Morgan StanleyUpgradesEqualweightOverweight

View More Analyst Ratings for SPWR
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Posted-In: JefferiesAnalyst Color Price Target Analyst Ratings

 

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