Higher Price Target On SunPower Corporation

Jefferies & Company is raising its price target on SunPower Corporation. SPWRA from $13.00 to $15.00 a share. In its research report, Jefferies & Company writes, "We believe SPWRA will have higher than previously expected ASPs through 2011. Given that low cost Chinese competitors' pricing is holding in a sold out market, SPWRA can likely continue to hold on to a price premium for its higher efficiency modules." "We are adjusting our model based on our data points from solar supply chain meetings in Europe and Asia. We believe ASPs for Chinese players will be higher than previously expected, and SPWRA will maintain its price premium in both captive and external channels." SPWRA shares closed Wednesday at $14.30