SunPower (SPWRA) NewsBite - SPWRA Upgraded By JP Morgan

Posted: Thursday, July 02, 2009 2:04 PM EDT

SunPower (SPWRA) was upgraded today by analysts at JP Morgan and the stock is now at $26.78, down $0.28 (-1.04%) on volume of 851,779 shares traded. The analysts lifted SPWRA to Neutral from Underweight. Over the last 52 weeks the stock has ranged from a low of $18.50 to a high of $107.00. SunPower stock has been showing support around $26.61 and resistance in the $27.51 range. Technical indicators for the stock are neutral and S&P gives SPWRA a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on SPWRA the stock seems like it could be a candidate for an August out-of-the-money bull-put credit spread below the 23 range. [ABR-Seven Summits Strategic Investments NewsBite]

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