Oppenheimer analyst Colin Rusch maintained a Hold rating on SunPower Corp (SPWR) yesterday. The company’s shares closed yesterday at $5.94.
Rusch said:
“SPWR posted upside to EBITDA in 4Q:18 as it executed well on its restructuring. We continue to see SPWR as a clear leader in innovating solutions for the solar market and capable of finding financing for effective solutions for its business. In that context we are looking at ~($50M)-($70M) in FCF for the year, which while not tragic in itself, but puts the company at <$250M in cash exiting the year. We anticipate the company will likely address this topic in detail at its analyst day March 27. We are encouraged by SPWR’s continuing to see a strong pipeline and, given its history, to convert a material portion of it into sales. We remain on the sidelines pending more detail March 27."
According to TipRanks.com, Rusch is a 5-star analyst with an average return of 10.0% and a 48.7% success rate. Rusch covers the Industrial Goods sector, focusing on stocks such as Capstone Turbine Corp, Amer Superconductor, and Canadian Solar Inc.
The word on The Street in general, suggests a Hold analyst consensus rating for SunPower Corp.
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The company has a one-year high of $10 and a one-year low of $4.55. Currently, SunPower Corp has an average volume of 1.69M.
Based on the recent corporate insider activity of 34 insiders, corporate insider sentiment is negative on the stock.
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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.
