Needham & Company Maintains an 'Underperform' on SunPower (SPWRA); Lowered Earnings Guidance on Weak Market Conditions
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Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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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Needham & Company maintains an 'Underperform' on SunPower (NASDAQ: SPWRA).
Needham analyst says, "Yesterday after market close, SunPower lowered its 2Q11 earnings guidance but tightened revenue to the higher-end of previous guidance range. SPWRA’s ability to generate strong revenue suggests some price elasticity in its R&C channel, but we believe weaker industry fundamentals and increased competition from new high-efficiency products will limit SunPower’s ability to gain share with its premium-priced products. Based on the continued price declines within the solar sector, we expect additional margins and earnings pressure to weigh on the share price...We lower 2011 EPS to $0.32 and 2012 to $0.60, based on lower margins offsetting slightly higher revenues."
For more ratings news on SunPower click here and for the rating history of SunPower click here.
Shares of SunPower closed at $22.32 yesterday.
Needham analyst says, "Yesterday after market close, SunPower lowered its 2Q11 earnings guidance but tightened revenue to the higher-end of previous guidance range. SPWRA’s ability to generate strong revenue suggests some price elasticity in its R&C channel, but we believe weaker industry fundamentals and increased competition from new high-efficiency products will limit SunPower’s ability to gain share with its premium-priced products. Based on the continued price declines within the solar sector, we expect additional margins and earnings pressure to weigh on the share price...We lower 2011 EPS to $0.32 and 2012 to $0.60, based on lower margins offsetting slightly higher revenues."
For more ratings news on SunPower click here and for the rating history of SunPower click here.
Shares of SunPower closed at $22.32 yesterday.
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