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UPDATE: Jefferies Lowers PT to $9 on SunPower

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A report from Jefferies reiterates its Hold rating and lowers its price target from $12 to $9 on SunPower (NASDAQ; SPWRA).

The report states, “SPWR missed 3Q11 revenue and margin expectations and significantly lowered its 4Q11 guidance. The CFO leaving the company is a negative but the company is taking measures to lower its opex, cut back capex, and focus on cost reduction."

SPWRA closed yesterday at $8.76.

Posted-In: Jefferies & CompanyAnalyst Color Earnings News Price Target Analyst Ratings

 

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