Wedbush Maintains Underperform on SunPower (SPWRA)
Wedbush is out with its report today on SunPower (NASDAQ: SPWRA), maintaining Underperform.
In a note to clients, Wedbush writes, "We remain cautious on SunPower shares given the company's cost structure relative to industry peers. While we expect SunPower may continue to enjoy its first-mover advantage in the systems business in the short term, we believe systems business margins will come under pressure over time as competitors move downstream."
Wedbush maintains an $11 PT on SPWRA.
Shares of SPWRA closed Tuesday at $15.26, down 0.52% from Monday's close.
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