Roth MKM analyst Philip Shen lowered the firm’s price target on SunPower to $17 from $23 and keeps a Neutral rating on the shares. The analyst notes that the rapid shift from loan to lease could benefit SunPower in 2023, but its Blue Raven business could also see some challenges as it has historically been more loan-centric. The firm prefers to remain "conservative" despite the upside potential for 2023 volumes, revenue, and EBITDA estimates.
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Published first on TheFly
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Read More on SPWR:
- Janney starts SunPower at Neutral with $16 fair value estimate
- SunPower initiated with a Neutral at Janney Montgomery Scott
- SunPower downgraded to Underweight from Equal Weight at Barclays
- SunPower put volume heavy and directionally bearish
- SunPower price target raised to $21 from $16 at Deutsche Bank