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☆ SunPower files for bankruptcy, plans to sell off assets — stock drops more than 30%
▼ + stars: | 2024-08-06 | by ( Spencer Kimball | ) www.cnbc.com time to read: +2 min

The rooftop solar installer SunPower has filed for bankruptcy, after struggling for months in the face of high interest rates and allegations of misconduct in its reporting practices. SunPower stock fell 32% to 55 cents per share Tuesday. SunPower listed assets and liabilities between $1 billion and $10 billion in its Chapter 11 protection filing late Monday in U.S. Bankruptcy Court for the District of Delaware. SunPower plans to sell its remaining assets through the bankruptcy process, the company said. But SunPower's stock has also been under pressure due to allegations of misconduct in its reporting practices.

Persons: SunPower, Ernst & Young Organizations: Bankruptcy, District of, U.S . Securities, Exchange Commission Locations: Napa , California, District of Delaware

☆ Goldman Sachs says it's time to buy this unloved global sector — and names some top stocks
▼ + stars: | 2024-01-15 | by ( Amala Balakrishner | ) www.cnbc.com time to read: +2 min

Europe's utilities sector may have come under pressure over the past three years, but Goldman Sachs says a shift is underway, naming stocks to play the industry in 2024. But things are looking up for Europe's utilities sector, according to Goldman Sachs' analysts led by Alberto Gandolfi. Stock picks German energy company RWE is among the stocks highlighted by Goldman, which said it continues to value its renewables business. Goldman has a buy rating on the stock, which is also on its conviction list of top picks. The bank has a price target of 22 euros on the company, giving it just over 33% potential upside.

Persons: Goldman Sachs, Alberto Gandolfi, inflecting, Goldman, Solaria, — CNBC's Michael Bloom Organizations: Renewable Energy, U.S . Federal Reserve, Italian Hydro Locations: Ukraine, Spanish

☆ Goldman sticks by this tanking solar stock, says it could nearly triple
▼ + stars: | 2023-11-16 | by ( Pia Singh | ) www.cnbc.com time to read: +1 min

Goldman Sachs thinks Maxeon Solar Technologies will see eye-popping gains despite the company's recent earnings disappointment. Analyst Brian Lee maintained his buy rating on the Singapore-based solar panel maker. He did lower his 12-month price target on the stock by $3 to $18, but that still implies shares can go up 195% from Wednesday's close. Shares of the solar company plunged 14% on Thursday, reaching a 52-week low, after Maxeon reported third-quarter results that missed analysts' expectations by a wide margin. But a positive catalyst for the stock going forward, Lee noted, is that Maxeon announced a settlement on Wednesday with residential solar technology provider SunPower .

Persons: Goldman Sachs, Brian Lee, Maxeon, Lee, SunPower Organizations: Technologies Locations: Singapore, Wednesday's, U.S

☆ 'Fertile ground': Goldman names stocks to tap a $6 trillion renewables market, gives one 58% upside
▼ + stars: | 2023-10-04 | by ( Weizhen Tan | ) www.cnbc.com time to read: +4 min

"This would suggest very fertile ground for the Green Energy Majors," they said, referring to the major stocks. Revisiting green energy stocks Goldman said these buy-rated stocks are among the "most interesting names": German offshore wind power generation company RWE . Goldman's price target: 54 euros ($56.60), giving it an implied upside of about 58%. Goldman's price target: 5.25 euros, giving it an implied upside of about 37%. Spanish solar energy firm Solaria : Goldman's price target: 17.5 euros, giving it an implied upside of about 24%.

Persons: Goldman Sachs, Goldman, Michael Bloom Organizations: Green Energy Locations: Europe, United States, U.S, Portuguese, Spanish

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