NEW YORK (TheStreet) -- SunPower Corp (SPWR) shares had coverage initiated with a "buy" rating by analysts at Brean Capital on Tuesday. The firm set a price target of $32 on the shares.
SunPower is up 1.7% to $28 in pre-market trading today.
The firm cites the solar panel manufacturer's top position in the U.S. market and burgeoning international market share as reasons for the positive rating.
"Our estimates factor in what we consider to be conservative revenue growth assumptions and modest improvements in profitability. We see potential upside to our projections, and consider valuation compelling at current levels... our view is that the equity doesn't fully reflect both the underlying improvements in end markets and profitability," the firm stated.
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."