SunPower price target lowered to $15 from $20 at Piper Sandler

Piper Sandler lowered the firm’s price target on SunPower to $15 from $20 and keeps a Neutral rating on the shares. Entering the Q1 earnings for the renewable and alternative energy sector, the analyst believes investors will be focused on demand, access to capital, supply-chains, and the Inflation Reduction Act. The firm expects continued backlog expansion for companies levered toward U.S. utility-scale development, U.S. residential solar levered companies to indicate that Q1 origination demand was better than previously feared, and that the European growth story "remains extremely attractive."