SunPower (SPWR) Receives a Rating Update from a Top Analyst


In a report released today, Colin Rusch from Oppenheimer maintained a Hold rating on SunPower (SPWR). The company’s shares closed last Monday at $10.94.

According to TipRanks.com, Rusch is a top 100 analyst with an average return of 22.9% and a 56.2% success rate. Rusch covers the Industrial Goods sector, focusing on stocks such as American Superconductor, Capstone Turbine, and Fuelcell Energy.

The word on The Street in general, suggests a Moderate Sell analyst consensus rating for SunPower with a $7.38 average price target, which is a -27.7% downside from current levels. In a report issued on February 4, Roth Capital also initiated coverage with a Hold rating on the stock with a $9.00 price target.

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Based on SunPower’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $15.02 million. In comparison, last year the company had a GAAP net loss of $158 million.

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SunPower Corp. engages in the design, manufacture and deliver of solar panels and systems. It operates through the following 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.

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