Deutsche Bank Starts TerraForm Power (TERP) at Hold
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Deutsche Bank initiated coverage on TerraForm Power (NASDAQ: TERP) with a Hold rating and a price target of $13.
Analyst Vishal Shah said, "Considering the fact that TERP has started the auction process to sell Class B shares and/or potentially the entire company, we take a closer look at the NPV of cash flows from the existing portfolio of solar and wind assets. Our analysis suggests a NPV of $13 at 9% discount rate and as such we see balanced risk-reward at current valuation."
Shares of TerraForm Power closed at $14.38 yesterday.
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