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Sunpower Corpotation (NASDAQ:SPWRA) reported Q2 loss of $0.19. Revenues for the quarter rose 54.1% year-over-year to $592.30 million, better than consensus estimates of $583.06 million.For the Q3, the company expects revenue to be $700-750 million.Tom Werner, SunPower president and CEO said, "In the 2011 second quarter, revenue grew by more than 30% sequentially as demand for our high efficiency systems remained strong. However, mix changes related to market conditions in Germany and Italy impacted our margins. We expect improved results in the second half of the year due to strong visibility in our North American utility and power plants (UPP) and commercial businesses, both of which are fully allocated through the end of the year. Also, as a result of reallocating 85 megawatts (MW) from our UPP international business to our residential and commercial business, we plan to increase both our dealer count and proportion of SunPower product sold by our dealers. Our 2011 panel cost reduction roadmap remains on track and we are accelerating our cell manufacturing step reduction initiative which will further reduce our capital cost per watt."SunPower (NASDAQ:SPWRA) has a potential upside of 19.5% based on a current price of $16.24 and an average consensus analyst price target of $19.41.