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SunPower Corporation Message Board

  • lakers_w lakers_w May 10, 2010 7:52 PM Flag

    Bachman expects ER “optimistically bullish", trading at 1x book value of $14.26

    May 10, 2010, 10:41 AM ET SunPower: Auriga Upgrades To Hold Rating “Unenthusiastically”

    By Eric Savitz
    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.

    Bachman says he is “increasingly positive” about firming demand, but adds that for the long-run, he still thinks SunPower will face increasing pressure from lower-priced rivals.

    SPWRA is up 62 cents, or 4.3%, to $14.97.

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