Miller Tabak Reiterates Neutral Rating on SunPower

Miller Tabak is reiterating its Neutral rating on shares of SunPower SPWRA. “Yesterday post close Sunpower issued new 2011 Guidance cutting previous non-GAAP EPS expectations to $1.20-$1.70 from $2.00-$2.25/sh,” Miller Tabak writes. “We are decreasing our 2011 non-GAAP EPS estimate to $1.15 from $1.80. We are also decreasing our 2012E to $1.70 from $2.30.” SunPower closed Wednesday at $21.33.