Deutsche Bank has met with Sunpower (SPWRA) management and according to Street Insider, is still comfortable with its Buy rating as the stock continues to slide to new all time lows. The firm maintains the $25 price target as well.
“We believe there is great (and unrealized) value in the company’s downstream business. We believe that companies with these business models are far better positioned; there are very few such companies, and SunPower is one of them… However, until SunPower delivers on this downstream promise, investors will continue to look skeptically at the stock.”
Shares of SPWRA are down another 5% today and 50% in just the past week. I’m going to be interested in a longer term position in SPWRA very soon if this thing starts to stabilize. In fact, I’ll be looking at several solar names soon as many of them have been destroyed with sinking oil prices.