SunPower (SPWR) PT Lowered to $27 at Cowen

August 4, 2021 6:36 AM EDT
Get Alerts SPWR Hot Sheet
Price: $22.48 +3.31%

Rating Summary:
    10 Buy, 22 Hold, 10 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 7 | Down: 15 | New: 24
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Cowen analyst Jeffrey Osborne lowered the price target on SunPower (NASDAQ: SPWR) to $27.00 (from $28.00) while maintaining a Market Perform rating.

The analyst commented, "Sunpower reported solid execution in residential solar in 2Q with strong momentum for bookings heading into 2H21 and '22. The SunVault storage system has an encouraging 23% attach rate, though the rollout is slower than the $100mn that was expected at the start of the year. Lower revenue guidance and slower CIS growth likely contribute to shares being softer in the near term."

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