UBS Maintains a 'Neutral' on SunPower (SPWRA); Leverages Total to Keep Project on Track
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Price: $7.29 --0%
Rating Summary:
0 Buy, 0 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 21 | Down: 24 | New: 29
Rating Summary:
0 Buy, 0 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 21 | Down: 24 | New: 29
Trade SPWRA Now!
UBS maintains a 'Neutral' on SunPower (NASDAQ: SPWRA) price target lowered from $8.00 to $7.50.
UBS analyst says, "SPWRA noted in its 10-K that Total agreed to provide up to $600M of credit in case SunPower’s liquidity falls below $100M (SunPower had $683M in cash as of January 1st) or any debt covenants are broken (SunPower needs to maintain a maximum of 4.5:1 Debt to EBITDA to satisfy $250M Credit Agricole revolving credit facility covenant). This deal was driven by the DoE loan guarantee program’s stringent liquidity requirements following the Solyndra debacle."
"We lower our 2012 and 2013 EPS estimates to $0.14 and $0.50 from $0.15 and $0.55 previously."
For an analyst ratings summary and ratings history on SunPower click here. For more ratings news on SunPower click here.
Shares of SunPower closed at $7.29 yesterday, with a 52 week range of $6.60-$23.36.
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UBS analyst says, "SPWRA noted in its 10-K that Total agreed to provide up to $600M of credit in case SunPower’s liquidity falls below $100M (SunPower had $683M in cash as of January 1st) or any debt covenants are broken (SunPower needs to maintain a maximum of 4.5:1 Debt to EBITDA to satisfy $250M Credit Agricole revolving credit facility covenant). This deal was driven by the DoE loan guarantee program’s stringent liquidity requirements following the Solyndra debacle."
"We lower our 2012 and 2013 EPS estimates to $0.14 and $0.50 from $0.15 and $0.55 previously."
For an analyst ratings summary and ratings history on SunPower click here. For more ratings news on SunPower click here.
Shares of SunPower closed at $7.29 yesterday, with a 52 week range of $6.60-$23.36.
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UBS, Credit Agricole
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