SunPower shares turn around as analysts rush in with praise

|About: SunPower Corporation (SPWR)|By:, SA News Editor

SunPower (SPWR +4.8%) pushes higher, rallying from early weakness after Q4 earnings beat estimates but 2014 revenue guidance came in soft, as analysts move in to praise the company.

The improved results were due to “solid execution, with shipment, revenue and gross margin all exceeding guidance and better than consensus,” RBC analysts say as they raise their price target on the stock to $35 from $30.

SPWR “is well positioned for profitable growth in rooftop sales and leasing, despite the normalizing margins for new utility-scale projects in North America," Credit Suisse says.

Other solar shares are higher too: SUNE +4.8%, SCTY +5.8%, FSLR +2.3%.