Posts Tagged ‘sunpower corporation cover recommendation; stock advice’

Sunpower Corporation Cover Recommendation

By: ispeculatornew | Date posted: 01.24.2008 (11:13 pm)

SPWR – Sunpower Corporation (Nasdaq) – (Closing Price – $69.21)

Sunpower Corporation (SPWR) announced their fourth quarter 2007 earnings today and reported disappointing results.

Sunpower reported revenue of 224.3 million and GAAP earnings of 0.06 per share. Revenue and EPS were both down from the prior quarter’s results of revenue of 234.3 million and EPS of 0.10 per share. Sunpower gave mediocre guidance of revenue between 230 and 250 million and GAAP EPS of 0.13 – 0.16 for next quarter. The company also raised full year guidance for 2008 EPS between 1.17 and 1.27 per share.

The share price of Sunpower was down over five dollars today but finished well above its intraday low of $60.25. In my opinion Sunpower is still way overvalued but I am going to recommend to cover. (more…)