SunPower (SPWR) Sees Profit Taking After a Stellar Week; Lazard Sees More Upside
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Price: $1.87 -3.61%
Rating Summary:
5 Buy, 24 Hold, 15 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 9
Rating Summary:
5 Buy, 24 Hold, 15 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 9
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After rising 53 percent this week, shares of SunPower Corporation (NASDAQ: SPWR) are pulling back some early Monday. Shares last traded at $11.75, down 3 percent, but are off the lows.
This week's upside in solar stocks has been in part attributed to speculation of solar securitizations and REIT conversions.
Today, Lazard reiterated its Buy rating and raised its price target from $11 to $15 after a 'well attended' conference call on solar project financing. The firm said SunPower and MEMC Electronic (NYSE: WFR) may benefit from solar securitizations. While large-scale utility projects - handled by the likes of FirstSolar (NASDAQ: FSLR) and other - may more easily quality for REIT structures.
In addition to speculation on financial structures, in a recent report IHS Solar said polysilicon prices are expected to bottom out soon, as production is more aligned with demand.
This week's upside in solar stocks has been in part attributed to speculation of solar securitizations and REIT conversions.
Today, Lazard reiterated its Buy rating and raised its price target from $11 to $15 after a 'well attended' conference call on solar project financing. The firm said SunPower and MEMC Electronic (NYSE: WFR) may benefit from solar securitizations. While large-scale utility projects - handled by the likes of FirstSolar (NASDAQ: FSLR) and other - may more easily quality for REIT structures.
In addition to speculation on financial structures, in a recent report IHS Solar said polysilicon prices are expected to bottom out soon, as production is more aligned with demand.
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