Goldman Sachs Downgrades SunPower from Neutral to Sell

According to a recent report, Goldman Sachs has downgraded SunPower (NASDAQ: SPWRA) from a Neutral rating to Sell. The downgrade is due to fundamental and technical risks that come after the expected close of Total's offer for 60% of SunPower.

In the report, Goldman Sachs said, "Fundamentally – while we believe Total bolsters SunPower's long-term strategic and financial strength, these benefits are likely to accrue over time."

SunPower closed yesterday at $21.27.