Jefferies Downgrades SunPower (SPWRA) to Hold
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Price: $7.29 --0%
Rating Summary:
0 Buy, 0 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 5 | Down: 11 | New: 27
Rating Summary:
0 Buy, 0 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 5 | Down: 11 | New: 27
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Jefferies downgraded SunPower (NASDAQ: SPWRA) from Buy to Hold and lowered their price target from $26 to $19.
The firm states, "SPWR guided to higher 2Q revenue but lower EPS. FY11 MW was guided up, revenue flat, and EPS and GM down significantly. The Total tender offer has cleared regulatory requirements and is expected to close soon. While we are optimistic on the transaction, the state of the industry and SPWR’s lower guidance do not warrant a Buy at this time."
For more ratings news on SunPower click here and for the rating history of SunPower click here.
Shares of SunPower closed at $20.95 yesterday.
The firm states, "SPWR guided to higher 2Q revenue but lower EPS. FY11 MW was guided up, revenue flat, and EPS and GM down significantly. The Total tender offer has cleared regulatory requirements and is expected to close soon. While we are optimistic on the transaction, the state of the industry and SPWR’s lower guidance do not warrant a Buy at this time."
For more ratings news on SunPower click here and for the rating history of SunPower click here.
Shares of SunPower closed at $20.95 yesterday.
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