Maxeon Solar price target lowered to $2.75 from $3 at UBS

UBS lowered the firm’s price target on Maxeon Solar to $2.75 from $3 and keeps a Sell rating on the shares. Maxeon preannounced Q4 results in-line with expectations and provided high-level 1Q24 guidance below expectations, the analyst tells investors in a research note. UBS expects profitability pressures to persist throughout 2024 as Maxeon contends with the dual challenges of rebuilding its U.S. customer base while facing increasing competition in the high efficiency module segment.