Is SunPower Stock Going to $2.50? 1 Wall Street Analyst Thinks So.
The sun isn't going to shine on (NASDAQ: SPWR), at least as far as investors are concerned. That's the latest take from an analyst tracking the solar stock. In mid-March he cut his price target significantly, maintaining a "no compelling reason to buy this," neutral recommendation. Here's why, and whether that evaluation is accurate.
SunPower, a notable player in the historically struggling solar industry, can be a divisive company among stock pundits. Some feel the share price is poised to bounce higher, with a recent financing arrangement showing that it still has ready -- if potentially dilutive -- sources of capital. Others feel that the relatively lofty interest rates we've seen will continue to limit demand for expensive solar projects.
Piper Sandler's Kashy Harrison is more in the latter camp. He was rather assertive with his scissors, enacting a nearly 17% cut to his SunPower price target to $2.50 per share. That implies the stock will shed $0.26 of its current share value, or 16% of its current share price.
Source Fool.com
Sunpower Corp. Stock
Currently there is a rather negative sentiment for Sunpower Corp. with 9 Buy predictions and 13 Sell predictions..
On the other hand, the target price of 7 € is above the current price of 2.0 € for Sunpower Corp., so the potential is actually 250.0%.
