Soleil Securities Downgrades SunPower (SPWRA) to Sell
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Soleil Securities downgrades SunPower (Nasdaq: SPWRA) from Hold to Sell with a $21 price target. The firm said they believe the valuation is stretched heading into what they expect to be a very difficult environment for the PV industry over the next 12 months
Analyst Jeffery Stein said, "We believe the trend in SPWRA's earnings estimates will continue to be down over the next several quarters given the oversupply situation we see developing in the PV market in the 2H09 and all of 10."
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