Xi Jinping’s plan to become carbon-neutral by 2060 for ChinaOctober 5, 2020
SunPower on Wednesday unveiled a new app that will allow users to review and manage their energy generation
Shares of SunPower Corporation fell nearly 7% on Thursday after the solar company was downgraded to ‘underweight’ by Morgan Stanley.
Morgan Stanley analyst Stephen Byrd said that while the San Jose, California-based company has outperformed solar installer and equipment stocks by as much as 200% over the last three months, SunPower now trades at a significant premium compared to other solar stocks that offer higher margins and growth.
The bank’s $27 price target indicates a 38% downside even with robust revenue growth, Byrd said. In September 2020, Byrd upgraded SunPower, a solar technology and energy services provider, from ‘underweight’ to ‘equal weight.’
SunPower on Wednesday unveiled a new app that will allow users to review and manage their energy generation, consumption, and battery storage settings from a mobile device. The app will be available to all of SunPower’s 285,000 monitoring customers by spring 2021.
The company is expected to release its fourth-quarter and fiscal year 2020 financial results on February 17.
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