Credit Suisse Reiterates SunPower Price Target As Sell-Off Provides Opportunity

In a report published Tuesday, Credit Suisse analyst Patrick Jobin upgraded the rating on SunPower Corporation SPWR from Neutral to Outperform, and reiterated the $35.00 price target.

In the report, Credit Suisse noted, “Concurrent with our 2015 Solar Outlook report issued today, we are upgrading SunPower to Outperform (from Neutral) and retaining our $35 Target Price, reflecting 37% potential upside. In our view, the recent sell-off (down 37% in 4 months) presents an attractive opportunity given the compelling valuation, nearing YieldCo catalysts, preferential global exposure to distributed generation markets and solid industry fundamentals.”

SunPower closed on Monday at $25.51.