SunPower downgraded to Market Perform from Outperform at Raymond James

Raymond James downgraded SunPower to Market Perform from Outperform without a price target. The analyst cites the uncertainty around the going-concern statement disclosed in December “in the broader context of investor scrutiny of any credit risk” for the downgrade. SunPower doesn’t have “an obvious balance-sheet problem,” which means “it ought to be realistic to negotiate a mutually acceptable agreement with the lenders,” the analyst tells investors in a research note. However, the main question is whether such an agreement would require a dilutive equity raise, says the firm.