SunPower Corp

SPWR: XNAS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$2.00	Tbhqq	Myc

SunPower: Plans to Restate Financials; Lowering Our Fair Value Estimate to $5.50

Brett Castelli

Oct 25, 2023

We lower our fair value estimate for no-moat SunPower to $5.50 per share from $10 following the company's announcement of a material weakness in internal controls and plans to restate financials. Our reduced valuation is not directly related to the company's disclosure and relates to updating our long-term financial model to assume lower market share and lower gross margins.

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