NEW YORK (TheStreet) -- Baird raised SunPower's (SPWR) price target to $42 from $38 and maintained an "outperform" rating for the stock in a note published Monday. Baird maintains that SolarPower "remains our favorite long-term solar investment."
While the solar panel market has a lot of players looking to take advantage of the global push to go green and lower energy costs, SolarPower is in the best position to take advantage of the emerging market according to Baird.
"We have expanded our multiple from ~22x as SPWR continues to distinguish itself through expansion in international markets, customer diversification, strong distribution network, and global partnerships... While a premium to First Solar (FSLR) given SPWR's ability to address all segments of the solar market, its growing leasing business, premium technology, and Total backing."
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SunPower opened trading Monday at $33.62
Separately, TheStreet Ratings team rates SUNPOWER CORP as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate SUNPOWER CORP (SPWR) a HOLD. The primary factors that have impacted our rating are mixed ? some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its impressive record of earnings per share growth, compelling growth in net income and largely solid financial position with reasonable debt levels by most measures. However, as a counter to these strengths, we also find weaknesses including weak operating cash flow and poor profit margins."