Why SunPower's Shares Popped Again Today

Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of SunPower (NASDAQ: SPWR  ) jumped 32% today after jumping 9% yesterday.

So what: Yesterday's move was fueled by the news that Warren Buffett was buying 579 MW of the company's projects for up to $2.5 billion. Today, an analyst from Lazard drove the move by upgrading the stock to a buy rating and slapping an $11 price target on it.  

Now what: At The Motley Fool we don't take analyst upgrades and downgrades too seriously because stocks will pop or drop in the short term only to forget the move a week later. But in this case, I completely agree with the analyst's sentiment; then again, I've been bullish on the stock for well over a year. I'd like to add to my position, but today I'm letting the market ride the upgrade wave -- I'll look for a better entry point down the road. For the long term this is still a great stock, but in the short term I don't see this analyst-driven pop as a reason to buy the stock today.

Interested in more info on SunPower? Add it to your watchlist by clicking here.

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Related Tickers

9/29/2016 2:39 PM
SPWR $9.06 Down -0.03 -0.33%
SunPower CAPS Rating: ****