Oppenheimer Issues a Hold Rating on SunPower (SPWR)

In a report released today, Colin Rusch from Oppenheimer assigned a Hold rating to SunPower (SPWRResearch Report). The company’s shares closed last Wednesday at $11.50.

According to TipRanks.com, Rusch is a top 100 analyst with an average return of 31.8% and a 58.1% success rate. Rusch covers the Industrial Goods sector, focusing on stocks such as American Superconductor, SolarEdge Technologies, and Westport Fuel Systems.

SunPower has an analyst consensus of Hold, with a price target consensus of $8.01.

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Based on SunPower’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $449 million and GAAP net loss of $1.43 million. In comparison, last year the company earned revenue of $348 million and had a GAAP net loss of $89.72 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.