Maxeon Solar price target lowered to 50c from $2 at UBS

UBS analyst William Grippin lowered the firm’s price target on Maxeon Solar to 50c from $2 and keeps a Sell rating on the shares following quarterly results. The firm highlighted in a research note on Friday that Maxeon is facing a confluence of challenges, including sluggish U.S. DG demand, increasing competition in the premium module segments, and depressed module pricing in Europe. These were largely cited as factors for the 2024 guidance below street estimates and ultimately contributed to the need for incremental capital raises and debt restructurings.