Market Overview

UDATE: Brean Upgrades SunPower On Strong Demand Outlook

Related SPWR
Solar ETFs Hot Again; Brighter Days Ahead? - ETF News And Commentary
Watch Solar Stocks Following Back-To-Back Industry Earnings Misses

SunPower (NASDAQ: SPWR) saw its shares upgraded to Buy on Friday by Brean Capital's Michael Gaugler, who established a $41 price target.

Despite the action, SunPower traded recently at $33.66, down 8.3 percent.

The solar panel maker posted adjusted earnings Thursday of $0.28 per share on revenue of $62 million, exceeding Street views.

Beyond the headline numbers, "the company offered strong end market demand outlooks," Gaugler said in a note Friday.

But vagueness from SunPower managers regarding its 2015 outlook "may keep the shares somewhat range-bound until a clearer picture emerges," said Gaugler, who previously maintained a Hold on the shares.

SunPower promised to address guidance at an analysts' conference slated for November 13 and the event "looks to be a catalyst for investor sentiment, Gaugler said.

Latest Ratings for SPWR

DateFirmActionFromTo
Aug 2014Brean CapitalUpgradesHoldBuy
Jul 2014UBSMaintainsNeutral
Jul 2014JP MorganMaintainsNeutral

View More Analyst Ratings for SPWR
View the Latest Analyst Ratings

Posted-In: Brean Capital Michael GauglerAnalyst Color Upgrades Price Target Analyst Ratings Movers

 

Related Articles (SPWR)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters