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SPWR

SunPower

$8.27

0.03 (0.36%)

, RUN

Sunrun

$17.09

0.64 (3.89%)

19:02
06/17/19
06/17
19:02
06/17/19
19:02

SunPower, Sunrun upgraded to Buy from Neutral at Goldman Sachs

Goldman Sachs analyst Brian Lee upgraded SunPower (SPWR) and Sunrun (RUN) to Buy from Neutral and SolarEdge (SEDG) to Neutral from Sell as part of a broader research note on U.S. residential solar stocks anticipating "volume tailwinds" in the second half of 2019 given the recent signs of strength in the sector's financing environment. The analyst's price target on SunPower goes to $11 from $6, Sunrun to $20 from $15 and SolarEdge to $52 from $35. Among the key catalysts, Lee cites California's mandate for new home rooftop solar that will require every new home built in the state starting next year to have a solar system, estimating the requirement to add 350MW-700MW opportunity for the sector which would account for 15%-30% increase in y/y volume. The analyst further notes that the timing of the 30% federal ITC tax credit expected to be phased down to 26% next year related to solar power installation will drive "heavy solar installation volumes between now and 2023" as companies seek to "safe harbor" volumes into year-end 19 in order to qualify future installations for the full 30% credit.

SPWR

SunPower

$8.27

0.03 (0.36%)

RUN

Sunrun

$17.09

0.64 (3.89%)

SEDG

SolarEdge

$56.58

0.09 (0.16%)

SPWR SunPower
$8.27

0.03 (0.36%)

02/15/19
FBCO
02/15/19
DOWNGRADE
FBCO
Neutral
SunPower downgraded to Neutral from Outperform at Credit Suisse
02/15/19
02/15/19
DOWNGRADE
Target $7

Neutral
Credit Suisse downgrades SunPower to Neutral, cuts price target to $7
As previously reported, Credit Suisse analyst Michael Weinstein downgraded SunPower to Neutral from Outperform, stating that the company still needs to prove distributed generation and manufacturing margin structure and find a strategic partner for capacity expansion. While he still thinks the successful 201 tariff exemption and the IRS safe harbor are positive factors, they are not enough to overcome the cost of the early stage ramp up of distributed generation. Weinstein cut his price target on SunPower shares to $7 from $10.
04/11/19
JPMS
04/11/19
INITIATION
Target $7.5
JPMS
Neutral
SunPower assumed with a Neutral at JPMorgan
JPMorgan analyst Mark Strouse assumed coverage of SunPower (SPWR) with a Neutral rating and $7.50 price target. The rating and price target are unchanged relative to the firm's prior coverage. The analyst believes SunPower will be somewhat of a "show me" stock near term as investors await evidence that the company can deliver on its long-term targets.
06/17/19
GSCO
06/17/19
UPGRADE
GSCO
Buy
SunPower upgraded to Buy from Neutral at Goldman Sachs
RUN Sunrun
$17.09

0.64 (3.89%)

05/16/19
LEHM
05/16/19
INITIATION
Target $21
LEHM
Overweight
Sunrun initiated with an Overweight at Barclays
Barclays analyst Moses Sutton started Sunrun with an Overweight rating and $21 price target. The analyst views the recent pullback in the shares on "misplaced concerns around its market share incumbency" as an opportunity to invest in a "durable solar name with most of its value-creation years ahead of it." Sutton sees "substantial" upside potential in Sunrun's portfolio given the company's "unmatched" cash generation and post-tax equity flip asset monetization advantage.
05/06/19
ROTH
05/06/19
INITIATION
Target $10
ROTH
Buy
Vivint Solar initiated with a Buy at Roth Capital
Roth Capital analyst Philip Shen started coverage of Vivint Solar (VSLR) with a Buy rating and a $10 price target. The analyst notes that Tesla's (TSLA) news around cutting prices created an "attractive entry point" for Vivint Solar. While much of the loss has been made up, the analyst continues to see the stock grinding higher on strong industry and company fundamentals. New partnership/channel announcements will likely serve as positive catalysts along with a meaningful refinancing opportunity over the medium-term, he contends. Looking ahead, Shen expects the valuation gap with competitor Sunrun (RUN) to narrow as management steadily executes to plan.
06/17/19
GSCO
06/17/19
UPGRADE
GSCO
Buy
Sunrun upgraded to Buy from Neutral at Goldman Sachs
09/11/18
BOFA
09/11/18
UPGRADE
Target $17
BOFA
Buy
Sunrun upgraded to Buy on valuation, reduced risks at BofA/Merrill
As previously reported, BofA/Merrill upgraded Sunrun to Buy from Neutral and raised its price target to $17 from $16. Analyst Julien Dumoulin-Smith said recent share underperformance has led to limited downside risk, combined with his increased confidence in both deployments and cost reductions, and positive SB100 legislation signed in California, will lead to acceleration in volumes.
SEDG SolarEdge
$56.58

0.09 (0.16%)

06/17/19
GSCO
06/17/19
UPGRADE
GSCO
Neutral
SolarEdge upgraded to Neutral from Sell at Goldman Sachs
05/07/19
ROTH
05/07/19
NO CHANGE
Target $70
ROTH
Buy
SolarEdge price target raised to $70 from $50 at Roth Capital
Roth Capital analyst Philip Shen raised his price target for SolarEdge to $70 from $50, saying that while the company delivered a "modest" Q1 beat and provided a "strong" Q2 guide, he believes to be in the early innings of an upside move in the stock. Further, the analyst thinks volumes and margins will improve better than expectations over the next year given his "strong" global demand outlook and expects this to attract new investors. Shen reiterates a Buy rating on the shares.
05/07/19
FBCO
05/07/19
NO CHANGE
Target $49
FBCO
Neutral
SolarEdge price target raised to $49 from $43 at Credit Suisse
Credit Suisse analyst Maheep Mandloi raised his price target for SolarEdge to $49 from $43 due to shipment growth. The analyst reiterates a Neutral rating on the shares as he awaits company growth/capex guidance on non-solar businesses, likely by the second half of the year.
05/07/19
JMPS
05/07/19
UPGRADE
Target $60
JMPS
Outperform
SolarEdge upgraded to Outperform on market share gains at JMP Securities
As previously reported, JMP Securities analyst Joseph Osha upgraded SolarEdge to Outperform from Market Perform, stating that he knew the company had been taking share from European competitors, but he had underestimated how significantly share gains could contribute to revenue growth. While he said he is still not a fan of the company's diversification strategy, Osha said he was wrong to focus there at the expense of the company's core inverter business, which keeps performing extremely well. The analyst, who concluded that SolarEdge's core business is "too strong to ignore," set a $60 price target on the shares.

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CRC

California Resources

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11:05
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California Resources call volume above normal and directionally bullish »

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UAL

United Continental

$93.63

-0.37 (-0.39%)

10:59
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Breaking Hot Stocks news story on United Continental »

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ViewRay

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UNP

Union Pacific

$165.98

-9.12 (-5.21%)

10:55
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Union Pacific put volume heavy and directionally bearish »

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VMW

VMware

$172.50

0.25 (0.15%)

10:55
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Conference/Events
House Oversight and Government Reform Committee to hold a hearing »

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RL

Ralph Lauren

$111.00

-4.16 (-3.61%)

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Levi Strauss

$18.57

-1.24 (-6.26%)

10:52
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On The Fly
Ralph Lauren, Levi Strauss under pressure after Goldman Sachs says sell »

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Levi Strauss

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PVH Corp.

$89.45

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KTB

Kontoor Brands

$30.98

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Under Armour

$27.10

-0.27 (-0.99%)

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Under Armour

$23.89

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Tapestry

$30.64

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UAL

United Continental

$93.76

-0.24 (-0.26%)

10:48
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Hot Stocks
United Continental expects MAX jet to return to service no later than Nov. 3 »

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UAL

United Continental

$93.88

-0.12 (-0.13%)

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United Continental CEO says China business was volatile due to trade issues »

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SLB

Schlumberger

$39.13

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Schlumberger call volume above normal and directionally bullish »

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PNC

PNC Financial

$140.14

1.48 (1.07%)

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Breaking Hot Stocks news story on PNC Financial »

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INO

Inovio

$2.60

-0.405 (-13.50%)

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Inovio analyst commentary at Piper Jaffray »

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PNC

PNC Financial

$140.35

1.69 (1.22%)

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Breaking Hot Stocks news story on PNC Financial »

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DouYu

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EBAY

eBay

$39.72

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Alphabet

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PNC

PNC Financial

$139.92

1.26 (0.91%)

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HLF

Herbalife Nutrition

$40.00

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DOYU

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Crude inventories for week of July 12 »

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FXI

iShares China Large-Cap ETF

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Short-term put buyer in China ETF bought delta neutral »

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