Citi Maintains SunPower Neutral, $8.50 PT

Citi maintained SunPower's

Neutral rating and $8.50 price target in a research report published, after SunPower's acquisition of the 50% share of Tenesol not already owned by Total

. In the report, Citi wrote, "Consistent with our thesis on the stock since the Total deal, the precipitous decline in SPWR shares since Total took a controlling interest (right at the peak) is driving Total to want to fully consolidate the remaining SPWR shares as quickly as possible. We maintain our Neutral/High Risk rating and $8.50 target based wholly on the takeout likelihood." Shares of SunPower are currently trading at $6.00, up 2.56% from Thursday's market close.