Deutsche Bank analysts reiterated their Hold rating on SunPower (NASDAQ:SPWR) and lowered their 12-month price target from $12.00 to $9.50 ahead of the company's upcoming Q2/23 earnings release.

The analysts anticipate a disappointing earnings report compared to Street expectations and express concerns about the current annual guidance, citing potential risks to revenues and EBITDA in the following quarters. They specifically noted the expectation of adjusted EBITDA of $18 million, lower than the Street's estimate of $28 million, and anticipate downward revisions to the annual guidance. SunPower is scheduled to announce its Q2 earnings results on August 1.