Northland lowered the firm’s price target on Maxeon Solar (MAXN) to $25 from $40 and keeps an Outperform rating on the shares after the company issued an operational update that included a miss in preliminary results on the negative impact of the SunPower (SPWR) dispute. However, the firm believes the market was already expecting a significant Q3 miss as it “seems to have been foreshadowed by the selloff over the last 3 months,” which the firm sees explaining the more limited reaction to the share price.
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