Deutsche Bank Starts SunPower (SPWRA) at Hold, Highlights Positives of Total Relationship
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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
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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Deutsche Bank initiates coverage on shares of SunPower (NASDAQ: SPWRA) with a Hold rating and $12 price target.
The firm believes that the risk reward with SPWRA is equal as the "concerns over cost competitiveness and declining pricing premium are offset by upside resulting from growth of captive business pipeline, relatively robust balance sheet and solid traction in the U.S/Italian rooftop markets."
Due to continued demand uncertainty, Deutsche feels that SPWRA may pull some of its 2013 volumes forward to 2012. The firm also notes that 40-45 percent of its 2012 volumes have been secured in the captive business at relatively attractive margins.
Deutsche announces a numver of long-term competitive advantages that Total relationship prodived to SunPower. The company is able to tap into new credit facilities at relatively attractive terms, it can leverage Total’s annual R&D spend which equals ~$20-$25 million, and SPWRA can use Total’s presence in developing markets and build new projects in these regions.
For more ratings news on SunPower click here and for the rating history of SunPower click here.
Shares of SunPower closed at $11.99 yesterday.
The firm believes that the risk reward with SPWRA is equal as the "concerns over cost competitiveness and declining pricing premium are offset by upside resulting from growth of captive business pipeline, relatively robust balance sheet and solid traction in the U.S/Italian rooftop markets."
Due to continued demand uncertainty, Deutsche feels that SPWRA may pull some of its 2013 volumes forward to 2012. The firm also notes that 40-45 percent of its 2012 volumes have been secured in the captive business at relatively attractive margins.
Deutsche announces a numver of long-term competitive advantages that Total relationship prodived to SunPower. The company is able to tap into new credit facilities at relatively attractive terms, it can leverage Total’s annual R&D spend which equals ~$20-$25 million, and SPWRA can use Total’s presence in developing markets and build new projects in these regions.
For more ratings news on SunPower click here and for the rating history of SunPower click here.
Shares of SunPower closed at $11.99 yesterday.
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