Mizuho analyst Maheep Mandloi initiated coverage of SunPower with a Neutral rating and $5 price target. SunPower is among the top three national residential solar developers and benefits from a simple reporting structure versus peers, the analyst tells investors in a research note. However, the company’s customer growth lags national peers, its platform investments are yet to yield results, and solar module sourcing remains uncertain, says the firm.
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