Maxeon Solar price target lowered to $2 from $3 at Roth MKM

Roth MKM analyst Philip Shen lowered the firm’s price target on Maxeon Solar to $2 from $3 and keeps a Neutral rating on the shares. The company posted a Q1 earnings miss and “weak” Q2 guide, and due to its cash flow challenges, the management also announced a highly dilutive capital infusion from its largest shareholder, the analyst tells investors in a research note. With a majority of the company now owned by a Chinese entity, the new capital raise calls into question Maxeon’s ability to secure the Department of Eneregy loan for its New Mexico facility, the firm added.