SunPower price target lowered to $3.50 from $5.50 at Jefferies

Jefferies lowered the firm’s price target on SunPower to $3.50 from $5.50 and keeps a Hold rating on the shares. The analyst expects alternative energy names the firm covers to “muddle through in ’24,” with pockets of opportunities in the second half as potential interest rate cuts provide tailwinds for the solar names, though the firm sees “very few catalysts” for biofuels.