Truist analyst Jordan Levy lowered the firm’s price target on SunPower to $18 from $24 and keeps a Hold rating on the shares ahead of its earnings today. The company has made noticeable progress in growing its customer base and driving up its adjusted EBITDA, which should continue in SunPower’s upcoming Q4 results, the analyst tells investors in a research note. The firm adds however that a slowdown in U.S. residential solar activity, particularly in the back half of 2023, is driving its price target cut.
Published first on TheFly
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