SunPower Signs LOI to Acquire Cobalt Power Systems
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1d ago
0mins
SunPower signed an LOI for an all-equity transaction to acquire Cobalt Power Systems of Mountain View, California, a company with $35M in revenue and 96 employees. While SunPower currently expects that Cobalt and SunPower will reach a definitive agreement to purchase Cobalt, the non-binding letter of intent provides that either Cobalt or SunPower are each free to abandon negotiations with respect to the proposed acquisition at any time and for any reason or for no reason, and the decision to so abandon negotiations and not proceed with the acquisition shall not be subject to legal challenge, except for breaches by Cobalt of the exclusivity terms set forth in the letter of intent.
Analyst Views on SPWR
Wall Street analysts forecast SPWR stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for SPWR is 4.50 USD with a low forecast of 3.00 USD and a high forecast of 6.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
2 Analyst Rating
2 Buy
0 Hold
0 Sell
Moderate Buy
Current: 1.690
Low
3.00
Averages
4.50
High
6.00
Current: 1.690
Low
3.00
Averages
4.50
High
6.00
About SPWR
SunPower Inc. is a solar installation and service company. The Company is a residential solar services provider in North America. Its digital platform and installation services support energy needs for customers who want to make the transition to an energy-efficient lifestyle. The Company's segment includes Residential Solar Installation and New Homes Business. The Residential Solar Installation segment performs solar system, storage and battery installations for residential homeowners. The New Homes Business segment performs solar system installations for new home builders. Its energy solutions include solar panels and solar battery storage.
About the author

Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.





