Morgan Stanley Downgrades SunPower to Underweight, Lowers Price Target to $5
Portfolio Pulse from Benzinga Newsdesk
Morgan Stanley analyst Andrew Percoco has downgraded SunPower (NASDAQ:SPWR) from Equal-Weight to Underweight and lowered the price target from $8 to $5.
October 17, 2023 | 11:14 am
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NEGATIVE IMPACT
SunPower's stock has been downgraded by Morgan Stanley from Equal-Weight to Underweight, with a reduced price target of $5.
The downgrade by Morgan Stanley from Equal-Weight to Underweight indicates a negative outlook for SunPower. The lowered price target from $8 to $5 also suggests that the analyst believes the stock is overvalued at current levels. This could lead to a decrease in the stock's price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100