In a report issued on August 2, Ben Kallo from Robert W. Baird reiterated a Buy rating on SunPower (SPWR – Research Report), with a price target of $26.00. The company’s shares closed last Thursday at $22.76.
According to TipRanks.com, Kallo is a 5-star analyst with an average return of 8.5% and a 55.7% success rate. Kallo covers the Basic Materials sector, focusing on stocks such as 5E Advanced Materials, Inc., Archer Daniels Midland, and Darling Ingredients.
Currently, the analyst consensus on SunPower is a Hold with an average price target of $21.54, implying a -3.3% downside from current levels. In a report issued on July 18, Evercore ISI also maintained a Buy rating on the stock with a $23.00 price target.
Based on SunPower’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $350 million and GAAP net loss of $27.87 million. In comparison, last year the company earned revenue of $240 million and had a GAAP net loss of $48.39 million.
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SunPower Corp. engages in the design, manufacture and deliver of solar panels and systems. It operates through the SunPower Energy Services and SunPower Technologies segments: The SunPower Energy Services Segment deals with the sales of solar energy solutions in the North America region including direct sales of turn-key engineering, procurement and construction. The SunPower Technologies Segment involves technology development, worldwide solar panel manufacturing operations, equipment supply to resellers, commercial and residential end-customers outside of North America. The company was founded by Thomas L. Dinwoodie, Robert Lorenzini and Richard M. Swanson in April 1985 and is headquartered in San Jose, CA.
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