SunPower (SPWR) Estimates Raised at Baird Following Solid Q1

Baird analyst Ben Kallo reiterated an Outperform rating and $42 price target on SunPower (NASDAQ: SPWR) following solid Q1 results.

Kallo commented, "SPWR beat estimates handily, driven by strong gross margin, and raised guidance (again). In our opinion, its business is performing better than expected across all channels. The conference call contained a significant amount of positive information which we think will be digested in the coming quarters, e.g., its move to holding company/yield company. SPWR is our favorite solar pick and we believe it represents a solid long-term investment."

The firm raised FY 2014 EPS from $1.14 to $1.29 but maintained FY 2015 at $1.82 while setting FY 2016 at $2.31.

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 $32.02 yesterday.

You May Also Be Interested In

• Seaport Global Securities Upgrades BWX Technologies (BWXT) to Buy
• Oppenheimer Assumes BridgeBio Oncology Therapeutics, In (BBOT) at Outperform
• Strategy (MSTR) Reiterated at Overweight by Cantor Fitzgerald on STRCK's Record Lows