UPDATE: Auriga Upgrades SunPower Corp from Sell to Hold and Maintains PT of $14

Auriga has published a research report on SunPower Corp SPWRA upgrading the stock. In the report, Auriga wrote, "SPWRA trades at ~18.0x our C2012 EPS estimate of $0.75, and ~9.0x our C2013 EPS estimate of $1.50. To value solar PV stocks we discount our three-year forward earnings, adjust for net cash, and assign a low to mid-teen earnings multiple consistent with high growth companies with continued cash requirements and lack of pricing power." Auriga upgraded SunPower Corp's stock from Sell to Hold with a price target of $14.00. SunPower Corp closed Friday at $13.57.