TerraForm Power (TERP): Cutting PT On Uncertain Growth Prospects - Baird
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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.
Shares of TerraForm Power closed at $14.59 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change
Related EntitiesRobert W Baird, Ben Kallo
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