Market Overview

UPDATE: Jefferies Raises PT on SunPower Corporation on Continued Tailwinds

Share:
Related SPWR
Solar Stocks Shine On Heels Of California Utilities Decision
Solar Stocks En Fuego As Market Rally Cools
Is SunPower a Turnaround Candidate? (GuruFocus)

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
Sep 2016JMP SecuritiesInitiates Coverage onMarket Underperform
Aug 2016Morgan StanleyDowngradesOverweightEqual-weight
Aug 2016UBSMaintainsBuy

View More Analyst Ratings for SPWR
View the Latest Analyst Ratings

Posted-In: JefferiesAnalyst Color Price Target Analyst Ratings

 

Related Articles (SPWR)

View Comments and Join the Discussion!