Jefferies Cuts Price Target On SunPower (SPWRA) After Q3, CFO Resignation
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Jefferies lowered estimates and its price target on SunPower (NASDAQ: SPWRA) from $12 to $9 following missed Q3 results, lowered Q4 guidance and CFO resignation.
The firm comments, "The CFO leaving the company is a negative but the company is taking measures to lower its opex, cut back capex, and focus on cost reduction."
FY11 EPS estimates go from $0.54 to $0.07 and FY12 from $1.35 to $1.03
For more ratings news on SunPower click here and for the rating history of SunPower click here.
Shares of SunPower closed at $9.01 yesterday.
The firm comments, "The CFO leaving the company is a negative but the company is taking measures to lower its opex, cut back capex, and focus on cost reduction."
FY11 EPS estimates go from $0.54 to $0.07 and FY12 from $1.35 to $1.03
For more ratings news on SunPower click here and for the rating history of SunPower click here.
Shares of SunPower closed at $9.01 yesterday.
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