Wunderlich Upgrades SunPower Corporation to Hold

Wunderlich Securities upgraded its rating on SunPower Corporation (NASDAQ: SPWRA) from Sell to Hold. At the same time, Wunderlich left its price target unchanged at $16.

In a research report published today, Wunderlich states, "After peaking at $22.60 following the tender offer for 60% of the stock, by Total S.A. of France, SunPower Corp. (SPWRA) shares are now back at our price target of $16. As a result, we are raising our rating to Hold from Sell. We believe the shares are fairly priced at $16 based on our discounted cash flow."

On Monday, SunPower lost 1.97% of its value to close the day at $16.39. Its shares continued to slide in today's pre-market trading, falling 0.31% to $16.34.