In Solar Sector, SunPower Shines While Evergreen Sinks
Analysts cheered SunPower Inc., a day after the solar company said its first-quarter net income soared to $12.8 million, or 15 cents per share, from $1.2 million or 2 cents per share a year ago. The company also expects second-quarter earnings to triple first-quarter results.
PacificCrest analyst Mark Bachman in a client note said domestic demand is “running ahead of expectations set just three months ago.”
Calyon Securities analyst Kelly Dougherty was bullish as well. “We continue to view SunPower as a first-class solar company, given its highest efficiency product, vertical integration, diversified strategy, experience, strong (polysilicon) contracts and aggressive cost cutting plan, just to name a few reasons.”
