The stock was up 6 1/2% in regular trade and another 1.4% after hours.
The guy has been more right on this stock than anyone I know of.
FromSmallCapPulse:

Analyst Comments – Auriga’s Mark Bachmanupgraded SunPower (Nasdaq:SPWRA) to HOLD fromSELL this morning, noting that the shares are trading below his targetof $15, at about 1x book.

Key Takeaways

· Expects tomorrow’s Q1 earnings report to be‘optimistically bullish’, and expects numbers to come in-line withrecent guidance (Street is looking for $356M and $0.09 in EPS); EUROweakness could also put downward pressure on FY10 results (pace SunRaybusiness)

· Bachman is increasingly positive about firming2H10 for the sector demand and thinks both industry momentum andinvestor sentiment is improving

· Thinks SunPower could faceincreasing pressure from low-cost competition which will likely lead tomargin pressure (sub 20%); remains skeptical based on recent analysis of California solar market, that demand is strengthening…MORE

Tech Trader Daily focused on another part of the analyst’s note:
SunPower: Auriga Upgrades To Hold Rating “Unenthusiastically”

Auriga USA analyst Mark Bachman this morning “unenthusiastically”upgraded SunPower (SPWRA) to Hold from Sell, with the stock now below his price target of $15,and trading at about 1x book value of $14.26.

Bachman is no fanof the stock, but writes that he finds few reasons to sell additionalholdings at current prices. The analyst notes that SunPower will reportQ1 results after the close tomorrow; he expects the presentation to be“optimistically bullish,” not to mention repetitively redundant….