SunPower named short-term sell idea at Deutsche Bank

Deutsche Bank analyst Corinne Blanchard placed a “Catalyst Call: Sell” on SunPower as a short-term investment idea and keeps a Hold rating on the shares. Within its coverage universe for solar, the firm has the most cautious view on SunPower and expects its Q2 results to be disappointing versus Street expectations. The analyst expects the company to report adjusted EBITDA of $18M, below the consensus estimate of $28M, and anticipates risks to its annual guidance. Longer connectivity times from the utilities and further transition in California from NEM 3.0 are areas of concerns, the analyst tells investors in a research note.