SunPower - Bull Of The Day

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SunPower - Bull Of The Day

By Zacks Investment Research on February 19, 2009 | More Posts By Zacks Investment Research | Author's Website

SunPower Corporation’s (SPWRA) geographically diversified fortunes appear greener given the very high growth potential in the alternative energy industry, and specifically solar power energy, higher captive generation of panels, declining silicon cost and assured silicon supply.

In addition, extension of the ITC in the U.S., resolution of tariffs in Spain, higher average conversion efficiency, improved silicon usage, and gradually improving ASPs, adds visibility to the story.

Accordingly, we maintain our BUY recommendation on SPWRA common stock with a six-month target price of $40.00. Price appreciation to our near-term target price represents 24.6% upside potential.

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