UPDATE: Bank of America Upgrades SunPower on Attractive Entry Point - SunPower (NASDAQ:SPWR)

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In a report published Wednesday, Bank of America analyst Krish Sankar upgraded the rating on

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SunPower

(NASDAQ: SPWR) from Underperform to Buy, and raised the price target from $21.00 to $37.00.In the report, Bank of America noted, “We rate SPWR shares a Buy. The company offers the industry's highest efficiency panel, has exposure to key growth markets globally, and is backed by global energy giant Total. In addition to utility-scale project opportunities, the company's US-based rooftop leasing business holds long-term value. We see substantial opportunity for the company to leverage high efficiency technology and low-cost Total-backed financing to expand contracted project opportunities around the world.”SunPower closed on Tuesday at $29.37.