SunPower Corporation (SPWR) : Analyst Rating Update

SunPower Corporation (SPWR) : Zacks Investment Research ranks SunPower Corporation (SPWR) as 3, which is a Hold recommendation. 9 research analysts consider that the stocks fundamentals point to a bright future, hence they rate the stock as a Strong Buy. 2 other analysts are mildly bullish on the stock and favor a Buy. A total of 3 analysts believe that the stock has a limited upside, hence they advise a Hold. The average broker rating of 14 research analysts is 1.54, which indicates as a Buy.

SunPower Corporation (SPWR) : The most positive equity analysts on SunPower Corporation (SPWR) expects the shares to touch $40, whereas, the least positive believes that the stock will trade at $23 in the short term. The company is covered by 13 Wall Street Brokerage Firms. The average price target for shares are $32.92 with an expected fluctuation of $5.62 from the mean.

SunPower Corporation (NASDAQ:SPWR): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $14.81 and $14.31 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $15.14. The buying momentum continued till the end and the stock did not give up its gains. It closed at $14.99, notching a gain of 3.59% for the day. The total traded volume was 3,277,703 . The stock had closed at $14.47 on the previous day.

Also, Wells Fargo initiates coverage on SunPower Corporation (NASDAQ:SPWR).The analysts at the brokerage house have a current rating of Market Perform on the shares. The rating by the firm was issued on June 2, 2016. The company shares have dropped -44.39% from its 1 Year high price. On Dec 24, 2015, the shares registered one year high at $33.29 and the one year low was seen on Jun 27, 2016. The 50-Day Moving Average price is $15.92 and the 200 Day Moving Average price is recorded at $21.27.

SunPower Corporation (SunPower) is a global energy company. The Company provides design, manufacturing, installation, ongoing maintenance and monitoring and adjacent services. The Company provides solar technology to residential, commercial and utility customers worldwide. The Company operates through three segments: the Americas Segment, the EMEA Segment and the APAC Segment. The Company offers solar power components, solar power systems and residential leases. The Company sells panels and balance of system components, primarily to dealers, system integrators and distributors. The Company designs, manufactures, and sells rooftop and ground-mounted solar power systems under construction and development agreements. The Company offers post-installation systems monitoring and maintenance in connection with its construction contracts and commercial power purchase.

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