SunPower, Macy's, GameStop Downgraded

Analysts are weighing in on energy stock SunPower Corporation (NASDAQ:SPWR), as well as retailers Macy's and GameStop. Here's a quick roundup of today's bearish brokerage notes on SPWR shares, as well as M stock and GME stock.

SunPower Stock Continues to Suffer

SPWR is down 0.3% at $6.20, after J.P. Morgan Securities trimmed its price target to $8 from $9, per MarketWatch. Like most alternative energy stocks, SunPower Corporation has had a miserable year, losing almost 72% and touching a four-year low of $5.84 just two days ago. Still, short-term options traders are decidedly call-skewed. This is based on SPWR's Schaeffer's put/call open interest ratio (SOIR) of 0.57, which ranks in the 26th annual percentile. 

Macy's Elects New CEO, M Stock Sinks to New Low 

After the company last night officially elected Jeff Gennette as its new CEO, M was hit with a downgrade to "neutral" from "buy" at Citigroup, which lowered its price target to $30 from $39. As such, Macy's Inc stock earlier hit a five-year low of $27.82, and was last seen 0.8% lower at $28.03, as it continues to struggle since buyout hopes were put on hold earlier this month. Most analysts are taking a wait-and-see approach on Macy's stock, with 11 of 13 brokerage firms handing out a "hold" rating. 

GME Stock Takes a Dive After Disappointing Outlook 

GME is down 12.1% this morning at a post-election low of $21.07, after the company's full-year outlook fell short of analysts' expectations. BofA-Merrill Lynch responded with a downgrade to "neutral" from "buy," and was one of several brokerage firms to cut its price target, setting its mark at $24. Today's losses bring GME stock's 52-week deficit to 30%, and additional bearish attention is certainly a possibility. For instance, nine of 13 analysts still recommend buying GameStop shares.