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Wunderlich Comments On SunPower 1Q11

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According to Wunderlich, SunPower (NASDAQ: SPWRA) announced last Thursday night that French oil giant, Total SA (TOTF.PA-NR), was making a friendly tender offer for 60% of SPWRA shares for approximately $23.25 each.

Wunderlich said that, concurrent with that announcement, the company pre-announced 1Q11 revenue and non-GAAP EPS. “The company reports Wednesday, May 11, after the close. We reiterate our Sell rating and $16.00 price target on the SPWRA shares.”

SunPower closed yesterday at $21.41.

 

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Posted-In: SunPower Corporation Wunderlich SecuritiesAnalyst Color Analyst Ratings

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