Baird Reiterates Outperform on 8point3 Energy Partners (CAFD) Following 3Q Report
- Wall Street rises as tech, discretionary stocks gain
- Unusual 11 Mid-Day Movers 9/27: (GI) (DRRX) (KTOV) Higher; (CVM) (CZR) (AOI) Lower
- Boston Scientific (BSX) to Acquire EndoChoice (GI) in ~$210M Deal
- Oil down 3 percent on fading hopes for output deal in Algiers
- Dollar gains against euro on Deutsche Bank fears, falls vs Mexican peso
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
- Goldman Sachs Thinks Lilly (LLY) is Compelling With or Without Potential Blockbuster AD Drug Sola; Analyst Raises Rating to 'Buy'
- Deutsche Bank 'Blue Sky' Scenario in Shipping, But Maintains Hold Ratings (SALT) (SBLK) (DSX)
- Analyst That Covers Both Disney (DIS) and Twitter (TWTR) Warns Disney NOT to Do It
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!