Deutsche Bank Maintains Buy On SunPower (SPWRA)

Deutsche Bank is maintaining its Buy rating and $17 price target on SunPower Corporation SPWRA after the company reported better than expected earnings. In a note sent to investors, Deutsche Bank writes, "SunPower reported 3Q10 results that beat estimates and guided 4Q10 within expectations. The risk of 4Q10 revenue and EPS loading has largely mitigated and the focus now shifts to 2011 outlook. SunPower is expected to present its 2011 guidance at its analysts meeting next week, but provided some early color with its 2011 module output forecast. While we have taken down 2011 EPS estimates, we maintain our Buy rating on favorable risk reward outlook." Shares of SPWRA lost 2 cents yesterday to close at $14.11.