SunPower Hits 52-Week High - Analyst Blog
10 Mai 2013 - 6:30PM
Zacks
On May 9, 2013, the shares of
SunPower Corporation (SPWR) climbed to its 52-week
high of $16.92 primarily driven by robust performance in
first-quarter 2013. On a year-over-year basis, the company’s top
and bottom line increased significantly due to high efficiency
solar panels and strong performance from both rooftop and ground
mount teams.
Globally, utilization of renewable energy is rising primarily due
to its clean nature and a growing awareness among the masses
regarding its benefits. These influence utility providers to shift
their mode of power generation to solar, wind and water.
SunPower Corporation is continuously receiving orders from domestic
and international clients for solar modules and other allied
services. The company has already begun construction of the
579-megawatt Antelope Valley Solar Projects for MidAmerican Solar.
SunPower Corporation has almost completed the construction of the
California Valley Solar Ranch project, owned by NRG Energy,
Inc. (NRG).
It is evident from SunPower Corporation’s activities that it is
currently in an expansion mode. The company manufactures its solar
cells and solar panels at its factories in the Philippines, a
low-cost production region, and is building another facility in
Mexico. This gives the company a distinctive cost advantage over
its U.S.-based manufacturing peers. These initiatives will enable
SunPower Corporation to improve its future margin.
We believe SunPower Corporation’s strong project backlog, continued
growth in residential lease and global focus on improving its cost
structure, will enable it to achieve its targets.
However, we are apprehensive about the rising competition, glut of
solar panels in the market and lower average selling prices.
SunPower Corporation currently has a Zacks Rank #3 (Hold). Stocks
worth considering in the alternative energy space are
ReneSola Ltd. (SOL) and STR Holdings,
Inc. (STRI), both with a Zacks Rank #2 (Buy).
NRG ENERGY INC (NRG): Free Stock Analysis Report
RENESOLA LT-ADR (SOL): Free Stock Analysis Report
SUNPOWER CORP-A (SPWR): Free Stock Analysis Report
STR HOLDINGS (STRI): Free Stock Analysis Report
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