Goldman Sachs analysts downgraded SunPower's rating from “neutral” to “sell” on Monday, and lowered the target price from $5 to $4 per share.
Zhitong Finance learned that Goldman Sachs analysts downgraded the SunPower (SPWR.US) rating from “neutral” to “sell” on Monday, and lowered the target price from $5 to $4. Goldman Sachs analysts said that due to increasingly fierce competition from Maxeon Solar Technologies (MAXN.US), the photovoltaic company is under pressure on average sales prices. Analysts said in a report to clients that Goldman Sachs's revenue expectations for SunPower in 2024 and 2025 were 20% and 15% lower than market expectations, respectively.
In contrast, Goldman Sachs raised the rating of photovoltaic company Sunnova Energy International (NOVA.US) on Monday and raised the rating of Altes Solar (CSIQ.US) from “selling” to “neutral.”