JP Morgan Maintains SunPower Corporation to Overweight with Price Target $28.00

Brokerage firm JP Morgan Maintains its rating on SunPower Corporation(NASDAQ:SPWR). In a research note issued to the investors, the brokerage major Lowers the price-target to $28.00 per share. The shares have been rated Overweight. The rating by JP Morgan was issued on Aug 5, 2016.

In a different note, On Jul 27, 2016, Guggenheim Securities said it Upgrades its rating on SunPower Corporation. The shares have been rated ‘Buy’ by the firm. On Jul 6, 2016, UBS said it Upgrades its rating on SunPower Corporation. The shares have been rated ‘Buy’ by the firm. Wells Fargo said it Initiates Coverage on SunPower Corporation, according to a research note issued on Jun 2, 2016. The shares have been rated ‘Market Perform’ by the firm.

SunPower Corporation (SPWR) shares turned negative on Wednesdays trading session with the shares closing down -0.39 points or -3.63% at a volume of 43,13,889. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $10.79. The peak price level was also seen at $10.79 while the days lowest was $10.14. Finally the shares closed at $10.36. The 52-week high of the shares is $31.1 while the 52-week low is $10.05. According to the latest information available, the market cap of the company is $1,431 M.

SunPower Corporation(SPWR) last announced its earnings results on May 5, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $433.64M. Analysts had an estimated revenue of $328.31M. Earnings per share were $-0.30. Analysts had estimated an EPS of $-0.14.

Several Insider Transactions has been reported to the SEC. On Mar 22, 2016, Eric Branderiz (SVP and Prin Acct Off) sold 6,365 shares at $25.00 per share price.Also, On Mar 14, 2016, Thomas H Werner (Director, Pres and CEO) sold 10,000 shares at $22.70 per share price.On Mar 11, 2016, Douglas J. Richards (EVP, Administration) sold 47,348 shares at $22.73 per share price, according to the Form-4 filing with the securities and exchange commission.

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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