Why SunPower Stock Plummeted by 10% on Thursday
After enjoying a pleasant pop in its share price at the end of 2023, solar company (NASDAQ: SPWR) is experiencing a dimmer 2024. Its share price cratered by 10% on Thursday after an analyst downgraded his rating on the stock. That decline was far steeper than the S 500 index's 0.3% dip for the session.
Well before the market opened, Raymond James Financial's Pavel Molchanov changed his recommendation on SunPower stock to market perform -- hold, in other words -- from his previous rating of outperform (buy).
That was only the latest in a series of bearish adjustments from analysts. In mid-December, for example, in a reset of its solar energy stock takes, Goldman Sachs downgraded SunPower from neutral to sell. Also, Piper Sandler's Kashy Harrison lowered his price target on the stock from $5 to $4, although he maintained his neutral rating.
Source Fool.com
Sunpower Corp. Stock
Currently there is a rather negative sentiment for Sunpower Corp. with 9 Buy predictions and 13 Sell predictions..
On the other hand, the target price of 7 € is above the current price of 2.0 € for Sunpower Corp., so the potential is actually 250.28%.
