The stock is down 7 cents at $13.13.
Yesterday we had Cowen reiterating* and a 22% upmove. Today it's Citigroup.
From Tech Trader Daily:
SunPower: Citi Upgrades To Hold; Likes AU Optronics Venture
"SunPower Completes Euro 44.5 Million Financing for Expanding Italy's Largest Solar Power Park" (SPWRA; SPWRB
Citigroup analyst Timothy Arcuri this morning raised his rating on SunPower (SPWRA) to Hold from Sell, while lifting his price target on the stock to $15, from $12. He is bullish on the company’s new joint venture with AU Optronics (AUO) to run the company’s 1.4 GW fab now under construction in Malaysia.
“With AUO’s considerable size/scale and manufacturing expertise, this should accelerate the production ramp, reduce cash burn (lower capex), and accelerate cost reduction,” he writes in a research note....MORE
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