Zacks Investment Research upgraded shares of SunPower Corporation-A (SPWRA) from UNDERPERFORM to NEUTRAL on September 05, 2012, with a target price of $4.50.
SunPower Corporation in the second quarter boosted by increasing demand for its residential power systems was able to narrow its loss year-over-year and beat past the Zacks Consensus Estimate. The company is a vertically-integrated solar manufacturer, with a presence along the entire solar value chain from cells through installation. Going forward, we are bullish on the company due to its diversified channel strategy with a strong presence in the residential and commercial market, along with its status as a conversion efficiency leader. The company also has a steadfast focus on spreading its revenue stream by climbing the solar value chain. All these catalysts give us greater confidence in the company's future growth prospects despite the current tepid economic environment. We therefore maintain our Neutral recommendation on SunPower Corporation with a target price of $4.50.
Get all Zacks Research Reports and be alerted to fast-breaking buy and sell opportunities every trading day.
To get a free copy of the research report on SunPower Corporation-A (SPWRA),
click here.
For more information about research offerings from Zacks Investment Research, visit
Zacks.com .
Be the first to comment