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February 28, 2013
10:21 EDTSPWR, TOTSunPower climbs after analyst says stock can continue run-up
Shares of solar energy company SunPower (SPWR), which have jumped about 175% in the last three months, are advancing again after Citigroup analyst Shahriar Pourreza wrote that the company's stock can advance further. SunPower has a number of positive catalysts, including greater investor interest in solar energy stocks and the expansion of third party financing for solar energy companies, the analyst stated in a note to investors earlier today. Moreover, SunPower's joint venture in Japan should generate significant growth and it is well-positioned to win a sizable share of new projects in the Middle East, which is expected to become a major player in solar energy, Pourreza contends. Finally, Total's (TOT) 66% stake in SunPower puts a floor under the stock and SunPower should benefit from its diverse product pipeline, added the analyst. Pourreza's price target on the shares was increased to $16 from $12 and the analyst maintained a Buy rating on the stock, which rose 80c, or 7%, to $12.50 in early trading.
News For SPWR;TOT From The Last 14 Days
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August 27, 2014
06:29 EDTTOTShell consortium nears deal to sell Nigeria oilfields for $5B, FT reports
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August 14, 2014
14:13 EDTSPWROmega Advisors gives quarterly update on stakes
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