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SunPower (SPWR +2.7%) extends yesterday’s 22% surge even after Raymond James downgrades shares to Market Carry out from Outperform, citing a “lofty sufficient” valuation.

Ray Jay analyst Pavel Molchanov says SPWR has a “stable place as a result of its standing as an built-in participant” however believes the valuation after the inventory’s 104% YTD enhance appropriately displays the corporate’s progress prospects.

SPWR and plenty of different photo voltaic names surged yesterday after Goldman Sachs upgraded the inventory to Purchase, saying the corporate will profit from a California legislation that can require a photo voltaic system in new houses constructed within the state which can be three flooring or much less.

SPWR’s present common Promote Facet Ranking is Maintain, its Looking for Alpha Authors’ Ranking is Impartial, and its Quant Ranking is also Impartial.