Complete Solaria stock rating reiterated at Outperform by Northland

Investing.com - Northland has reiterated an Outperform rating on Complete Solaria (NASDAQ:SPWR) with a price target of $2.00. According to InvestingPro data, the stock is currently trading near Fair Value, with analyst targets ranging from $3.00 to $6.00.

The research firm noted that Complete Solaria reported financial results in line with expectations and provided guidance consistent with its previous forecasts.

Complete Solaria achieved its third consecutive quarter of positive non-GAAP operating income, a trend the company expects to maintain going forward.

Northland highlighted that the integration of Sunder is progressing ahead of schedule, demonstrating operational efficiency in the company’s expansion efforts.

The firm also pointed out that Complete Solaria is currently bidding on a significant 200,000-unit storage opportunity with an estimated installed value of approximately $2 billion.

In other recent news, SunPower has completed its acquisition of Sunder Energy, positioning it as the fifth-largest residential solar installer in the United States by installed megawatts. This acquisition, valued at $40 million in cash plus 10 million shares of common stock, significantly expands SunPower’s sales capabilities, increasing its total sales representatives from 841 to 1,734. Funding for this transaction was secured through a private offering managed by Cantor Fitzgerald. Meanwhile, Complete Solaria’s stock price target has been raised by Northland to $5.40 from $3.00, following the acquisition’s completion. Northland maintained an Outperform rating on Complete Solaria, describing the transaction as "transformational." Previously, Northland had initiated coverage on Complete Solaria with an Outperform rating, citing favorable conditions for residential solar due to U.S. policy shifts. These developments highlight significant changes and expansions within the solar energy sector.

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