SunPower (SPWR) PT Raised to $38 at Cowen

February 18, 2021 7:05 AM EST
Get Alerts SPWR Hot Sheet
Price: $27.66 --0%

Rating Summary:
    10 Buy, 22 Hold, 10 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 7 | Down: 4 | New: 62
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Cowen analyst Jeffrey Osborne raised the price target on SunPower (NASDAQ: SPWR) to $38.00 (from $17.00) while maintaining a Market Perform rating.

The analyst commented, "Management was upbeat about SunPower's growth trajectory, highlighting momentum in backlog, record bookings in new homes, and strong commercial bookings. Storage attach rates of above 30% are on track to hit the 50% long- term target and FY21 sales guide of 35% y/y growth came in higher than the >30% outlook at the Analyst Day in Sept. Reiterate Market Perform rating and raise price target to $38."

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