SunPower Price Target Raised to $47.00 at Northland Securities (SPWR)
Investment analysts at Northland Securities lifted their price objective on shares of SunPower (NASDAQ:SPWR) from $38.00 to $47.00 in a note issued to investors on Friday, AmericanBankingNews.com reports. The firm currently has an “outperform” rating on the stock. Northland Securities’ price target would suggest a potential upside of 37.51% from the company’s current price.
Shares of SunPower (NASDAQ:SPWR) traded up 6.75% on Friday, hitting $34.18. 9,788,666 shares of the company’s stock traded hands. SunPower has a 52 week low of $12.65 and a 52 week high of $37.14. The stock’s 50-day moving average is $31.09 and its 200-day moving average is $31.4. The company has a market cap of $4.155 billion and a P/E ratio of 45.94. SunPower also was the recipient of some unusual options trading on Friday. Stock traders acquired 17,555 call options on the stock. This is an increase of 274% compared to the average volume of 4,698 call options.
SunPower (NASDAQ:SPWR) last released its earnings data on Thursday, April 24th. The company reported $0.49 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.32 by $0.17. The company had revenue of $683.70 million for the quarter, compared to the consensus estimate of $669.37 million. During the same quarter last year, the company posted $0.22 earnings per share. SunPower’s revenue was up 19.0% compared to the same quarter last year. Analysts expect that SunPower will post $1.21 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on SPWR. Analysts at Deutsche Bank upgraded shares of SunPower from a “hold” rating to a “buy” rating in a research note on Wednesday. They now have a $38.00 price target on the stock, up previously from $33.00. Separately, analysts at Bank of America upgraded shares of SunPower from an “underperform” rating to a “buy” rating in a research note on Wednesday. They now have a $37.00 price target on the stock, up previously from $21.00. Finally, analysts at Brean Capital initiated coverage on shares of SunPower in a research note on Monday. They set a “buy” rating and a $32.00 price target on the stock. Eight investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. SunPower has a consensus rating of “Buy” and an average target price of $32.65.
SunPower Corporation operates in two business segments: the Utility and Power Plants (NASDAQ:SPWR) Segment and the Residential and Commercial (R&C) Segment.
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