Auriga Starts SunPower (SPWRA) at Sell
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Price: $7.29 --0%
Rating Summary:
0 Buy, 0 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 0
Rating Summary:
0 Buy, 0 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 0
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Auriga initiates coverage on SunPower (NASDAQ: SPWRA) with a Sell rating and $14 price target.
The firm states, "SunPower is a vertically integrated crystalline silicon (c-Si) solar PV industry technology leader with a flexible business model targeted at the solar module and solar power project markets. We note that SunPower's technology leadership is limited by its inefficient cost structure, inconsistent operational execution, and a relatively weak balance sheet that leaves it vulnerable in dealing with the continued pricing pressure across the solar PV value chain. Further, we note that the recently consummated friendly tender offer for 60% of the company by the French oil giant Total SA does not address the core business concerns . Additionally, we believe the Class A share's 31% premium to Class B shares is unsustainable in the long-term. With fundamentals and valuation out of step, we rate SunPower's stock a Sell with $14 price target."
For more ratings news on SunPower click here and for the rating history of SunPower click here.
Shares of SunPower closed at $22.32 yesterday.
The firm states, "SunPower is a vertically integrated crystalline silicon (c-Si) solar PV industry technology leader with a flexible business model targeted at the solar module and solar power project markets. We note that SunPower's technology leadership is limited by its inefficient cost structure, inconsistent operational execution, and a relatively weak balance sheet that leaves it vulnerable in dealing with the continued pricing pressure across the solar PV value chain. Further, we note that the recently consummated friendly tender offer for 60% of the company by the French oil giant Total SA does not address the core business concerns . Additionally, we believe the Class A share's 31% premium to Class B shares is unsustainable in the long-term. With fundamentals and valuation out of step, we rate SunPower's stock a Sell with $14 price target."
For more ratings news on SunPower click here and for the rating history of SunPower click here.
Shares of SunPower closed at $22.32 yesterday.
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