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SunPower Moving To The Upside On Analyst Ratings And Deal With Google

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SunPower (NASDAQ: SPWR) has shown a strong rally over the past few sessions, starting on April 21 when Brean Capital initiated the company with a Buy rating and $32 price target.

That rally continued on April 22 when Goldman announced that SunPower was among its top picks in the solar sector going into Q1 earnings.

Moving to Wednesday morning, Bank of America hopped aboard the bullish band wagon, upgrading SunPower to a Buy rating while giving it a $37 price target. Not long after, a headline broke where Google (NASDAQ: GOOG) and SunPower announced a partnership where Google would commit to a $100 million residential solar lease deal.

The news took shares up 7.76 percent Wednesday morning, briefly hitting $32 before calming down slightly.

Other solar names have also recently caught a bid, including SunEdison (NYSE: SUNE) which rallied sharply on Tuesday's session after some bullish comments from David Einhorn.

Latest Ratings for SPWR

DateFirmActionFromTo
Dec 2016GuggenheimDowngradesBuyNeutral
Nov 2016BarclaysMaintainsEqual-Weight
Nov 2016BairdDowngradesOutperformNeutral

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View the Latest Analyst Ratings

Posted-In: Bank of AmericaNews Hedge Funds Pre-Market Outlook Analyst Ratings Movers Trading Ideas General

 

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