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Wedbush Downgrades SPWRA

By Market News Video Staff, Friday, November 19, 2:20 PM ET

Wedbush downgraded shares of SunPower (SPWRA) today from neutral to underperform. The firm cited the company’s disappointing earnings guidance, which it released yesterday. Wedbush said new players in the solar panel sector could take market share from SunPower. The firm cut its price target on SunPower from $11 to $7 per share.

Shares are trading lower by more than 5% on Friday.

SunPower is 3.78% of the Solar Energy ETF (AMEX:KWT), trading flat this afternoon. Top stocks in the fund include MEMC Electronic Materials (NYSE:WFR) at 11.72% of the portfolio, First Solar (NASDAQ:FSLR) at 9.41%, and Trina Solar (NYSE:TSL) at 8.77%.


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