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Fly News Breaks for August 12, 2016
SPWR
Aug 12, 2016 | 08:28 EDT
As previously reported, Morgan Stanley analyst Stephen Byrd downgraded SunPower to Equal Weight from Overweight and lowered its price target to $12 from $27. The analyst reduced EBITDA forecasts on SunPower's very weak outlook for the utility-scale market and thinks shares will struggle to outperform until it has visibility on future results and prove it can execute.