Jefferies Cuts Numbers on SunPower (SPWR) Following Q1
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Price: $0.22 -8.33%
Rating Summary:
5 Buy, 22 Hold, 17 Sell
Rating Trend:
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Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
5 Buy, 22 Hold, 17 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Jefferies cuts estimates and its price target on SunPower (NASDAQ: SPWR) from $9 to $6 following Q1 results.
The firm comments, "SPWR again shows upside greater revenue recognition from projects. The company beat internal cost targets as well in the quarter and continues to guide to an efficiency adj. cost of $0.86 by the end of 2012. With the markets increasingly shifting away from FiT based markets to those focused more on LCOE is a benefit to SPWR, however profitability remains challenged as the company executes on it's cost reduction roadmap."
Q2 EPS goes from $0.12 to ($0.13), FY12 from $0.26 to ($0.32) and FY13 from $0.99 to $0.81.
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 $5.70 yesterday.
The firm comments, "SPWR again shows upside greater revenue recognition from projects. The company beat internal cost targets as well in the quarter and continues to guide to an efficiency adj. cost of $0.86 by the end of 2012. With the markets increasingly shifting away from FiT based markets to those focused more on LCOE is a benefit to SPWR, however profitability remains challenged as the company executes on it's cost reduction roadmap."
Q2 EPS goes from $0.12 to ($0.13), FY12 from $0.26 to ($0.32) and FY13 from $0.99 to $0.81.
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 $5.70 yesterday.
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