Sunpower Gets Buy Rating (SPWRA)
Janney Montgomery Scott initiated coverage on SunPower (SPWRA) with a Buy after the bell yesterday with a price target of $45.
Hat tip to StreetInsider.com for the following analyst comment:
“SunPower is a technology leader and has the strongest brand in thesolar industry. The Company’s position downstream will allow it todrive sell-through, react quickly to changes in pricing and demandlevels, and better manage its variable, balance of system (BOS) costs,associated with installations. This is critical to profitability in thecurrent environment of excess manufacturing capacity. With its leadingmodule conversion efficiencies and energy density, we believe SunPoweris positioned to capture a large share of key solar markets,particularly mid-sized distributed generation. Key catalysts forSunPower’s stock include the anticipated establishment of a feed-intariff in California, continued project wins on the power plant front(especially in the 1-20MW niche), and cost improvements driven by theover-supply environment.”
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