Sunpower (SPWRA) Gets JMS Buy Rating

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08:00:01 am on October 2, 2009

Janney Montgomery Scott initiated coverage on SunPower (SPWRA) with a Buy after the bell yesterday with a price target of $45.

Hat tip to for the following analyst comment:

“SunPower is a technology leader and has the strongest brand in the solar industry. The Company’s position downstream will allow it to drive sell-through, react quickly to changes in pricing and demand levels, and better manage its variable, balance of system (BOS) costs, associated with installations. This is critical to profitability in the current environment of excess manufacturing capacity. With its leading module conversion efficiencies and energy density, we believe SunPower is positioned to capture a large share of key solar markets, particularly mid-sized distributed generation. Key catalysts for SunPower’s stock include the anticipated establishment of a feed-in tariff in California, continued project wins on the power plant front (especially in the 1-20MW niche), and cost improvements driven by the over-supply environment.”

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