Needham & Company Downgrades SunPower Corp. (SPWRA)

Needham analyst says, "We are downgrading SunPower to Hold due to increased downside risk to estimates and currency headwinds. We see increased risk surrounding SunPower's expanded European pipeline of systems business due to the possibility of additional subsidy cuts, currency headwinds and growing macro concerns in Europe. Furthermore, SunPower continues to face pricing pressure despite strong near-term demand. With a lack of near term catalysts, we expect SPWRA shares to remain range bound. Therefore, we recommend investors wait on the sideline at this time."

SunPower Corporation (SPWRA) is down -4% for today.

Labels: downgrade, solar analysis, Solar Stocks, SPWRA, SunPower Corp

posted by Ertai at 9:40 AM