SunPower Corporation (Nasdaq:SPWRA) was downgraded by Soleil Securities from "Buy" to "Hold," citing the approximate 40 percent surge of the stock over the last month.
Along with a large number of equities, SunPower's rally wasn't based on increased guidance or outlook.
Soleil said, "There has been little to no change in the outlook for the company's earnings over the next two to four quarters - all of the move in SunPower's shares has been multiple driven."
The company said they were concerned that "SunPower is moving toward a greater reliance over time on the downstream installation portion of the photovoltaic business."
The price target for the energy company was raised slightly from $14 to $15.
SunPower closed the week at $13.94, gaining $0.02, or 0.14 percent.
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