The stock was up 6 1/2% in regular trade and another 1.4% after hours.
The guy has been more right on this stock than anyone I know of.
Analyst Comments – Auriga’s Mark Bachman upgraded SunPower (Nasdaq:SPWRA) to HOLD from SELL this morning, noting that the shares are trading below his target of $15, at about 1x book.Tech Trader Daily focused on another part of the analyst's note:
· Expects tomorrow’s Q1 earnings report to be ‘optimistically bullish’, and expects numbers to come in-line with recent guidance (Street is looking for $356M and $0.09 in EPS); EURO weakness could also put downward pressure on FY10 results (pace SunRay business)
· Bachman is increasingly positive about firming 2H10 for the sector demand and thinks both industry momentum and investor sentiment is improving
· Thinks SunPower could face increasing pressure from low-cost competition which will likely lead to margin pressure (sub 20%); remains skeptical based on recent analysis of California solar market, that demand is strengthening...MORE
SunPower: Auriga Upgrades To Hold Rating “Unenthusiastically”
Auriga USA analyst Mark Bachman this morning “unenthusiastically” upgraded SunPower (SPWRA) to Hold from Sell, with the stock now below his price target of $15, and trading at about 1x book value of $14.26.
Bachman is no fan of the stock, but writes that he finds few reasons to sell additional holdings at current prices. The analyst notes that SunPower will report Q1 results after the close tomorrow; he expects the presentation to be “optimistically bullish,” not to mention repetitively redundant....