Wunderlich Securities Reiterates Sunpower Hold, $16 PT

Wunderlich Securities reiterated its Sunpower SPWRA Hold rating and $16 price target in a research report published today. In the report, Wunderlich Securities states, "SunPower (SPWRA) reported 2Q11 results after the close last night and, on a pro-forma basis, beat the top line and missed the bottom line. The results in the quarter were adversely impacted by pricing, strategic changes in plans, changes in government incentives, FX, and a write down of third-party inventory." Shares of Sunpower were trading at $16.44 at the time of posting, up 1.26% from Tuesday's market close.