SunPower's (SPWR) Section 201 Tariff Exemption Offers Upside Opportunity, PT To $9 At JPMorgan
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JPMorgan analyst, Paul Coster, reiterated his Neutral rating on shares of SunPower (NASDAQ: SPWR) and raised his price target to $9.00 from $8.50 after the company announced that its request for Section 201 tariff exemption has been granted by the USTR.
The analyst stated "We believe the announcement is positive, eliminating an overhang for the stock and providing a competitive advantage over international competitors. We believe there is now upside to the company's guidance, which assumes that the tariffs remain in place".
Shares of SunPower closed at $7.95 yesterday.
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