SunPower Corp

SPWR: XNAS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$5.00	Tdtwy	Chbdm

SunPower Earnings: Lowering Our Forecast Following Recent Guidance Cut

Brett Castelli

Aug 1, 2023

We lower our fair value estimate for no-moat SunPower to $10 from $13.50 following second-quarter earnings. The main driver of our reduced valuation is a reduction to our revenue forecast following the company's recent guidance cut. We view SunPower shares as fairly valued. We see solar inverter companies as relatively better positioned to weather near-term volatility in the U.S. rooftop solar market.

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