SunPower (SPWR) PT, Estimates Lowered at Baird Post Q3; 'Outperform' Maintained
- Wall Street rises, buoyed by economic data; Dow sets high
- Twitter (TWTR) 'Takeover Money' Moves On as 'Trump Money' Moves In
- Amazon (AMZN) Could Open Over 2,000 Brick-and Mortar Groceries if Tests Succeed - DJ; Kroger (KR) on Watch
- Buy Any Seasonal Market Weakness Ahead of Year End Rally - Oppenheimer (SPY)
- After-Hours Stock Movers 12/05: (TXMD) (COUP) (BOBE) Higher; (SB) (LXRX) (STWD) Lower (more...)
Get the Pulse of the Market with StreetInsider.com's Pulse Picks. Get your Free Trial here.
Baird analyst Ben Kallo lowered his price target on SunPower (NASDAQ: SPWR) to $12.00 (from $16.00) following results and lowered guidance but maintained an Outperform rating.
Kallo commented, "Q3 results were largely in line with our top line estimate and beat on EPS, although sustained pricing pressure from an oversupply environment will likely weigh on the stock. SPWR lowered FY:16 guidance for the second quarter in a row, and expects market oversupply may last through 2017. We believe the market is nearing bottom and continue to recommend shares for long-term investors, but will look for additional clarity from FSLR’s guidance call on November 16."
The firm cut FY 2016 EPS from $0.19 to ($0.33) and FY 2017 EPS from $0.95 to $0.19.
Shares of SunPower closed at $6.30 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UPDATE: Goldman Sachs Downgrades Marvell (MRVL) to Sell
- Jefferies Raises Price Target on Zumiez, Inc. (ZUMZ) to $23 Following 3Q
- Mizuho Securities Raises Price Target on PDC Energy (PDCE) to $81; Reiterates Neutral
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change
Related EntitiesRobert W Baird, Ben Kallo
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!