SunPower Announces Initial Public Offering SPWR Message Board

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Gold/Mining/Energy : SunPower Announces Initial Public Offering SPWR

SPWR 1.770

-1.7%

11:39 AM EDT

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From: Eric	9/26/2010 11:55:04 AM
	of 196

September 24, 2010, 10:16 AM ET SunPower: Raymond James, Soleil Both Cut Their Ratings By Eric Savitz SunPower (SPWRA) today was hit by a paid of analyst downgrades. Raymond James analyst Pavel Molchanov cut his rating on the shares to Market Perform from Outperform. He notes that the stock has rallied 39% since he upgraded the stock on August 27, despite “limited news flow.” The analyst writes that it is now “an opportune time to take the foot off the accelerator.” Soleil Securities analyst Paul Leming reduced his rating to Hold from Buy, with a new target of $14, down from $15; he also had upgraded the stock on August 27, and likewise notes that not much has since changed in the interim other than a sharp run-up in the stock price. “With SunPower’s shares now approaching a median valuation (on a price-to-tangible book value basis) within the solar group, we believe there is relatively limited upside potential in the company’s shares,” he writes. SPWRA is down 17 cents, or 1.2%, to $13.75. blogs.barrons.com

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