SunPower Corp. (NASDAQ:SPWR)
SunPower is up over 30 percent this year to date, with additional gains of 4.2 percent on Wednesday. The company got a huge boost at the beginning of December when a holding company owned by Berkshire Hathaway (NYSE:BRKA)(NYSE:BRKB) purchased the world’s largest permitted solar photovoltaic development from it for between $2 and $2.5 billion.
SunPower is the Citigroup analyst’s conviction buy with a price target of $12, 49.6 percent above Tuesday’s closing price. The analyst commented that the company’s “leading efficiency panels, massive downstream channel, the backing of oil giant Total and, strategic JVs with key industry players make it the perfect package, in our view.”
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