Citi Maintains Hold on SunPower

Citi is out with its report today on SunPower SPWRA, maintaining Hold. In a note to clients, Citi writes, "We rate shares of SunPower Hold, Speculative Risk (2S). As the industry leader in conversion efficiency, we think SPWRA enjoys a strong technology advantage that positions it to capture a lion's share of the niche for space-constrained solar PV applications such as residential/commercial rooftops." Citi maintains a $16.50 PT on SPWRA. At the time of posting, shares of SPWRA were trading pre-market at $20.65, down 1.43% from Tuesday's close.