Market Overview

UDATE: Brean Upgrades SunPower On Strong Demand Outlook

Share:
Related SPWR
Alan Knuckman's SunPower Trade
Earnings Scheduled For May 9, 2017
S&P 500 Set For Record High: These 2 Stocks Just Broke Out To Buy Range (Investor's Business Daily)

SunPower (NASDAQ: SPWR) saw its shares upgraded to Buy on Friday by Brean Capital's Michael Gaugler, who established a $41 price target.

Despite the action, SunPower traded recently at $33.66, down 8.3 percent.

The solar panel maker posted adjusted earnings Thursday of $0.28 per share on revenue of $62 million, exceeding Street views.

Beyond the headline numbers, "the company offered strong end market demand outlooks," Gaugler said in a note Friday.

But vagueness from SunPower managers regarding its 2015 outlook "may keep the shares somewhat range-bound until a clearer picture emerges," said Gaugler, who previously maintained a Hold on the shares.

SunPower promised to address guidance at an analysts' conference slated for November 13 and the event "looks to be a catalyst for investor sentiment, Gaugler said.

Latest Ratings for SPWR

DateFirmActionFromTo
Feb 2017OppenheimerUpgradesPerformOutperform
Dec 2016GuggenheimDowngradesBuyNeutral
Nov 2016BarclaysMaintainsEqual-Weight

View More Analyst Ratings for SPWR
View the Latest Analyst Ratings

Posted-In: Brean Capital Michael GauglerAnalyst Color Upgrades Price Target Analyst Ratings Movers

 

Related Articles (SPWR)

View Comments and Join the Discussion!