Wells Fargo Downgrades SunPower to Underweight, Lowers Price Target to $4
Portfolio Pulse from Benzinga Newsdesk
Wells Fargo analyst Michael Blum has downgraded SunPower (NASDAQ:SPWR) from Equal-Weight to Underweight and reduced the price target from $6 to $4, indicating a bearish outlook on the company's stock.
January 08, 2024 | 12:53 pm
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SunPower's downgrade by Wells Fargo from Equal-Weight to Underweight, along with a price target reduction from $6 to $4, suggests a negative outlook on the stock's performance.
Analyst downgrades typically lead to a negative perception among investors and can result in a short-term decline in the stock price. The reduction in price target further emphasizes the analyst's bearish stance, potentially leading to a decrease in investor confidence and a subsequent drop in the stock's value.
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IMPORTANCE 90
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