What's Going On With SunPower Stock Wednesday?
Portfolio Pulse from Anusuya Lahiri
SunPower Corp's stock is trading higher after Raymond James analyst upgraded the stock rating from Outperform to Strong Buy with a $21 price target. The analyst views the stock's weakness due to the company's overweight to the California market as temporary. Despite a 46% decline year-to-date, SunPower has shown resilience and continues to grow, projecting a 20% YoY increase in customers for 2023.
July 12, 2023 | 4:59 pm
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SunPower Corp's stock has been upgraded by Raymond James from Outperform to Strong Buy with a $21 price target. Despite a 46% decline YTD, the company projects a 20% YoY customer increase for 2023.
The upgrade by Raymond James from Outperform to Strong Buy indicates a strong positive sentiment towards the stock. This, coupled with the company's projected growth despite a challenging year, is likely to boost investor confidence and potentially drive the stock price up in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100