UBS Maintains a 'Neutral' on SunPower (SPWRA); Leverages Total to Keep Project on Track
Tweet
Share
E-mailGet 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: 10 | New: 13
Rating Summary:
0 Buy, 0 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 10 | New: 13
Join SI Premium – FREE
UBS maintains a 'Neutral' on SunPower (NASDAQ: SPWRA) price target lowered from $8.00 to $7.50.
UBS analyst says, "SPWRA noted in its 10-K that Total agreed to provide up to $600M of credit in case SunPower’s liquidity falls below $100M (SunPower had $683M in cash as of January 1st) or any debt covenants are broken (SunPower needs to maintain a maximum of 4.5:1 Debt to EBITDA to satisfy $250M Credit Agricole revolving credit facility covenant). This deal was driven by the DoE loan guarantee program’s stringent liquidity requirements following the Solyndra debacle."
"We lower our 2012 and 2013 EPS estimates to $0.14 and $0.50 from $0.15 and $0.55 previously."
For an analyst ratings summary and ratings history on SunPower click here. For more ratings news on SunPower click here.
Shares of SunPower closed at $7.29 yesterday.
UBS analyst says, "SPWRA noted in its 10-K that Total agreed to provide up to $600M of credit in case SunPower’s liquidity falls below $100M (SunPower had $683M in cash as of January 1st) or any debt covenants are broken (SunPower needs to maintain a maximum of 4.5:1 Debt to EBITDA to satisfy $250M Credit Agricole revolving credit facility covenant). This deal was driven by the DoE loan guarantee program’s stringent liquidity requirements following the Solyndra debacle."
"We lower our 2012 and 2013 EPS estimates to $0.14 and $0.50 from $0.15 and $0.55 previously."
For an analyst ratings summary and ratings history on SunPower click here. For more ratings news on SunPower click here.
Shares of SunPower closed at $7.29 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Spotify (SPOT) PT Raised to $400 at Pivotal Research
- Cathay General Bancorp (CATY) PT Lowered to $41 at Keefe, Bruyette & Woods
- Northern Oil and Gas (NOG) PT Raised to $55 at Stifel
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT ChangeRelated Entities
UBS, Credit AgricoleSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
