Auriga Reiterates a 'Buy' on SunPower (SPWRA); DoE Loan Guarantee Aids Revenue & Earnings Visibility
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Price: $7.29 --0%
Rating Summary:
0 Buy, 0 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 17 | Down: 14 | New: 17
Rating Summary:
0 Buy, 0 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 17 | Down: 14 | New: 17
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Auriga reiterates a 'Buy' on SunPower (NASDAQ: SPWRA) price target of $12.50.
Auriga analyst says, "We believe SunPower's existing/growing project pipeline aids its visibility but the company must substantially address its misaligned cost structure first. SunPower management has, in recent investor presentations, noted the average c-Si cost trajectory driven largely by polysilicon cost reduction could bottom out in the coming quarters whereas SunPower with its industry leading conversion efficiency will be just getting started on the cost path in a meaningful way driven by value chain participation, technology and reduction in process steps. We await details, and expect a new cost roadmap and cost restructuring initiatives by mid-November, around the time of its SunPower's 3Q11 earnings release."
For more ratings news on SunPower click here and for the rating history of SunPower click here.
Shares of SunPower closed at $8.09 yesterday.
Auriga analyst says, "We believe SunPower's existing/growing project pipeline aids its visibility but the company must substantially address its misaligned cost structure first. SunPower management has, in recent investor presentations, noted the average c-Si cost trajectory driven largely by polysilicon cost reduction could bottom out in the coming quarters whereas SunPower with its industry leading conversion efficiency will be just getting started on the cost path in a meaningful way driven by value chain participation, technology and reduction in process steps. We await details, and expect a new cost roadmap and cost restructuring initiatives by mid-November, around the time of its SunPower's 3Q11 earnings release."
For more ratings news on SunPower click here and for the rating history of SunPower click here.
Shares of SunPower closed at $8.09 yesterday.
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