SunPower (SPWR) on Tuesday got an upgrade from investment banking firm Morgan Stanley, which cited an increasing probability that the solar manufacturer would establish a yieldco. Under the yieldco scenario, the San Jose, Calif.-based SunPower would spin off its operational solar power plants into a separate, publicly traded company and generate cash flows that would be distributed as dividends to shareholders. The company could use money
Solar power stocks have been unfairly punished by plummeting oil prices, say Morgan Stanley and Deutsche Bank analysts. Stephen Byrd, a Morgan Stanley analyst, has buy recommendations on SunEdison (SUNE), NRG Yield (NYLD) and Abengoa Yield (ABY). Vishal Shah, an analyst at Deutsche Bank, remains a buyer of SunEdison, Trina Solar (TSL), SolarCity (SCTY) and SunPower (SPWR). IBD’s Energy-solar group is ranked No. 189 out of 197 industry sectors. The
Solar stock prices were down Friday after OPEC members on Thursday opted to keep their production ceiling unchanged despite plunging oil prices. First Solar (FSLR) stock was down 5% near 49 in midday trading on the stock market today. SolarCity (SCTY) was down 3% near 55; SunEdison (SUNE) was down 5% near 21; and SunPower (SPWR) was down 4% near 28. Canadian Solar (CSIQ)was down 11% near 24. The Guggenheim Solar ETF (TAN) was down 5% near 36.