Sunpower - Sunpower Group started at Buy by Phillip Securities

Stock Name: Sunpower
Company Name: SUNPOWER GROUP LTD.
Research House: Phillip Securities

Phillip Securities starts Sunpower Group (5GD.SG) at Buy with $0.46 target price, based on 12x P/E, according to Dow Jones.



Broker expects China-based designer of energy-saving products to benefit from rising demand in country’s clean energy sector.



“Huge money has been spent on infrastructures that will make previously unfeasible projects of the wind, solar, hydro and nuclear energy sectors now pretty to very profitable. And, going by Sunpower’s chemical industry clients, there is no letting up in terms of infrastructure spending on energy-related projects,” says Phillip Securities.



Notes company has 64 revenue-generating patents. Shares off 1.7% at $0.285.