SunPower price target lowered to $15 from $18 at Truist

Truist analyst Jordan Levy lowered the firm’s price target on SunPower to $15 from $18 and keeps a Hold rating on the shares. The analyst believes the company will provide a "largely bullish update" with its Q1 results, and it is particularly focused on California demand levels post NEM 3.0 implementation. The firm notes however that its reduced price target reflects a valuation that is more in-line with SunPower peers.