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SunPower Corporation Message Board

  • lakers_w lakers_w Jun 2, 2010 8:54 PM Flag

    Wunderlich set $14 tgt

    http://www.businessweek.com/investor/content/jun2010/pi2010062_565855.htm

    SunPower: Wunderlich Securities initiated coverage on shares of SunPower (SPWRA), the second-biggest U.S. manufacturer of solar power modules, with a hold rating and 14 price target on June 2.

    In a note, Wunderlich equity analyst Theodore O'Neill said that SunPower differentiates itself from the rest of the industry by making "the most efficient solar cells in mass production," thus enabling the company to maximize electricity production per square meter of space.

    O'Neill said the company has a net negative cash position and he forecasts "a slowly growing book value" that will rise 9¢ by the end of 2010, which "should provide some support for the stock" until it turns profitable on a GAAP (generally accepted accounting principles) basis in 2011.

    "We would not sell shares at current levels as risk appears to be balanced," O'Neill said.

 
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