Baird Reiterates Outperform on 8point3 Energy Partners (CAFD) Following 3Q Report
- Netflix, Inc. (NFLX) Tops Q4 EPS by 1c; Subs Beat Views
- S&P 500 ends up slightly with boost from financials; Netflix up late
- Nestle Said Examining Takeover of Mead Johnson (MJN) - Source
- La Quinta Holdings (LQ) Gains on Plan to Split in Two
- Fed's Yellen says 'makes sense' to gradually raise interest rates
Get daily under-the-radar research with StreetInsider.com's Stealth Growth Insider Get your 2-Wk Free Trial here.
Baird reiterated an Outperform rating and $20.00 price target on 8point3 Energy Partners LP (NASDAQ: CAFD) following the company's 3Q earnings report. Total operating revenue was $26.1M, exceeding consensus estimates of $23.3M, and adjusted EBITDA was $32.9M versus $29.7M/$26.5M.
Analyst Ben Kallo commented, "CAFD beat estimates across the board and reaffirmed its 12%-15% distribution growth rate. Additionally, CAFD announced a $250M increase to its credit facility, which should facilitate additional project purchases, and has total potential liquidity of ~$381M. CAFD also announced the purchase of a portion of the Henrietta project from SunPower, which will increase CAFD and help drive distribution growth. CAFD remains a top pick given continued execution and we remain buyers at current levels."
Shares of 8point3 Energy Partners LP closed at $15.45 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- NetEase (NTES) PT Raised To $305 At Goldman Sachs, Maintains Buy
- Canaccord Genuity Raises Price Target on Boeing (BA) Ahead of 4Q Release
- Target (TGT) PT, Estimates Cut at Buckingham Research Following Miss
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS View
Related EntitiesRobert W Baird, Earnings, Ben Kallo
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!