Wednesday, March 25, 2009

Odd Timing of a Great Call on SunPower (SPWRA)

The stock was recently trading at $23.30, down another 2 1/2%. For folks new to the blog we are fans of Barron's Eric Savitz. From Feb. 25:
Eric Savitz , The Hardest Working Man In Show Business! And: Book-to-Bill Ratio at 0.10

From Research Recap:
Watching the flow of research on stocks can be fascinating. Take the recent case of Sun Power (SPWRA), a manufacturer of solar power products with a $2 billion market cap:

On January 27, two days ahead of the fourth quarter earnings announcement, three analysts cut their 2009 earnings forecasts for the company: Mehdi Hosseini of Friedman Billings, Jeff Osborne of Thomas Weisel and Mark Bachman of Pacific Crest. Eric Savitz of Tech Trader Daily had an excellent roundup of the coverage

On January 29, as reported again by Tech Trader Daily, Gordon Johnson of Hapoalim Securities initiated coverage on SPWRA with a sell recommendation and a target price of $15.00. The stock was trading at around $30.00. Savitz remarked, “That’s pretty bold timing, given that the company should report Q4 results today after the close.”>>>MORE