SunPower Corp Gets a Buy Rating from Cowen & Co.

By Ryan Adsit

In a report released yesterday, Jeff Osborne from Cowen & Co. reiterated a Buy rating on SunPower Corp (NASDAQ: SPWR), with a price target of $10. The company’s shares opened today at $6.90.

According to TipRanks.com, Osborne is a 1-star analyst with an average return of -1.2% and a 45.7% success rate. Osborne covers the Industrial Goods sector, focusing on stocks such as TCP International Holdings Ltd, Honeywell International, and Ballard Power Systems.

SunPower Corp has an analyst consensus of Moderate Buy, with a price target consensus of $10.75.

Based on SunPower Corp’s latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $658 million and GAAP net loss of $569 million. In comparison, last year the company earned revenue of $1.02 billion and had a GAAP net loss of $275 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.