Wedbush Upgrades SunPower (SPWRA) to Neutral; Total Group To Purchase 60% Stake

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April 29, 2011 8:15 AM EDT
Get Alerts SPWRA Hot Sheet
Price: $7.29 --0%

Rating Summary:
    0 Buy, 0 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 13 | Down: 14 | New: 11
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Wedbush upgraded SunPower (NASDAQ: SPWRA) from Underperform to Neutral. PT increased from $11 to $20.

Wedbush analyst says, "We are upgrading shares of SunPower to NEUTRAL given the premium valuation assigned to the majority of the company’s shares by Total. While Total is initially purchasing a 60% stake in the company, we believe Total may eventually buy the remaining shares of SunPower...We view this deal as very positive for SunPower, particularly given the headwinds facing module manufacturers in the near term...Our 2011 GAAP EPS estimate is $0.89."

For more ratings news on SunPower click here and for the rating history of SunPower click here.

Shares of SunPower closed at $16.12 yesterday.

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