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SunPower Corp (SPWR) Gets a Hold Rating from Merrill Lynch


In a report released today, Julien Dumoulin Smith from Merrill Lynch maintained a Hold rating on SunPower Corp (NASDAQ: SPWR), with a price target of $7. The company’s shares opened today at $6.78, close to its 52-week low of $6.36.

According to TipRanks.com, Smith is a 4-star analyst with an average return of 4.7% and a 63.0% success rate. Smith covers the Utilities sector, focusing on stocks such as American Electric Power, Dominion Resources, and Eversource Energy.

The word on The Street in general, suggests a Hold analyst consensus rating for SunPower Corp with a $8.33 average price target.

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Based on SunPower Corp’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $447 million. In comparison, last year the company had a GAAP net loss of $54.25 million.

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SunPower Corp. engages in the design, manufacture, and deliver of solar panels and systems. It operates through the following business segments: Residential, Commercial and Power Plant. The Residential segment refers to the sales of solar energy solutions to residential end customers through a variety of means.