Sun Power Upgraded at Credit Suisse

In a note out this morning, analyst Patrick Jobin at Credit Suisse is upgrading shares of Sun Power

from Neutral to Outperform while maintaining their $35 price target. Mr. Jobin feels the recent sell-off (down nearly 37 percent over the past 4 months) provides an attractive opportunity, especially given the current valuation. While the policy changes in Japan and lower oil prices do provide headwinds, Credit Suisse points out that Sun Power has less than 15 percent exposure to Japan, while oil accounts for only 1.5 percent of electricity generation in key market areas. Shares of SPWR are trading higher by 3.21 percent at 26.33 in pre-market trading.