Cowen and Company raised its price target on SPWR to $50 from $40 and backed its "outperform" recommendation, with the brokerage predicting upside of nearly 35% from yesterday's close at $37.06. SunPower Corporation tends to outperform during the month of July, and could be on the verge of a bounce. Amid Tuesday's broad-market pullback, SPWR met up with the $36 level -- a former layer of resistance that could now act as support to push the shares higher. |