SunPower assumed with an Equal Weight at Morgan Stanley

Morgan Stanley assumed coverage of SunPower with an Equal Weight rating with a price target of $15, down from $25, as the analyst took over lead coverage of North America Clean Tech research at the firm. The analyst’s In-Line industry view balances the strong long-term growth prospects for renewable energy with near-term headwinds that include permitting backlogs, a challenging supply chain and macro environment and volatility in the financing markets.