SunPower initiated with neutral view at Jefferies, here’s why

Jefferies initiated coverage of SunPower with a Hold rating and $5.50 price target. SunPower offers solar plus storage solutions to customers, notes the firm, which is sidelined as the company resolves its internal controls and improves its margin profile under “a fairly new exec team.” While interest rate stabilization will help, improved execution “will be key,” the analyst tells investors.