TerraForm Power (TERP): Cutting PT On Uncertain Growth Prospects - Baird

September 23, 2016 6:30 AM EDT
Get Alerts TERP Hot Sheet
Price: $13.56 +1.95%

Rating Summary:
    5 Buy, 9 Hold, 1 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 14 | Down: 11 | New: 8
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Baird analyst, Ben Kallo, reiterated his Neutral rating on shares of TerraForm Power (NASDAQ: TERP) and cut his price target to $13 from $20. TERP indicated it is seeking strategic alternatives, including a potential sale of the business, which seems prudent given TERP’s lack of a sponsor.

TERP also recently reported preliminary Q2 results, where stronger solar pricing was partially offset by lower-than-expected wind production. The analyst cut his price target due to ongoing uncertainty about TERP’s strategy and growth prospects. We'll look for updated financial information or a clear path to growth before becoming more constructive.

For an analyst ratings summary and ratings history on TerraForm Power click here. For more ratings news on TerraForm Power click here.

Shares of TerraForm Power closed at $14.59 yesterday.

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