SunPower Corp Receives a Buy from Cowen & Co.

By Jason Carr

Cowen & Co. analyst Jeff Osborne reiterated a Buy rating on SunPower Corp (NASDAQ: SPWR) on September 14 and set a price target of $12. The company’s shares closed on Friday at $8.39.

According to TipRanks.com, Osborne is a 3-star analyst with an average return of 0.9% and a 49.8% success rate. Osborne covers the Industrial Goods sector, focusing on stocks such as Honeywell International, Ballard Power Systems, and Capstone Turbine Corp.

SunPower Corp has an analyst consensus of Moderate Buy, with a price target consensus of $11.40.

Based on SunPower Corp’s latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $337 million and GAAP net loss of $93.76 million. In comparison, last year the company earned revenue of $421 million and had a GAAP net loss of $69.99 million.

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SunPower Corp. engages in the design, manufacture, and deliver of solar panels and systems. It operates through the following segments: Residential, Commercial, and Power Plant. The Residential segment refers to the sales of solar energy solutions to residential end customers through a variety of means.