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SunPower Corporation (SPWR) designs, manufactures, and delivers solar systems to residential, commercial, and utility-scale power plant customers worldwide.
The company offers solar power components, including panels, balance of system components, and inverters.
It also offers rooftop and ground-mounted solar power systems, including residential systems, commercial roof and ground mounted systems, utility and power plant systems, and utility-scale photovoltaic power plants.
In addition, the company offers operations and maintenance services, including remote monitoring, and preventative and corrective maintenance services, as well as rapid-response outage restoration and inverter repair services.
Further, it leases solar power systems to residential customers; and sells inverters manufactured by third parties. The company serves investors, financial institutions, project developers, electric utilities, independent power producers, commercial and governmental entities, production home builders, residential owners, and small commercial building owners.
SunPower Corporation also sells its products to dealers, systems integrators, and distributors.
Shares have formed a bullish "flag" after the Congress extended solar subsidies for another five years. Note that the stock was downgraded this morning by Goldman Sachs while its price target was raised. Meanwhile, Oppenheimer raised its price target on the stock today to $40 from $31. Use the expected weakness to open a new position.
52-Weeks Trading Range: $18.25 - $35.11
Entry Point: $29.50
Stop Loss: $28.00
Target Price: $32.45
SPWR closed at $25.00
