TerraForm Power (TERP): Cutting PT On Uncertain Growth Prospects - Baird
- AT&T (T) Agrees to Acquire Time Warner (TWX) for More than $80 Billion - WSJ
- Top 10 News for 10/17 - 10/21: Merger Rumors Abound; CEOs Depart; Tesla Kicks Autopilot Up A Notch
- Wall Street ends little changed; Microsoft hits record
- AT&T (T) in Advanced Talks to Acquire Time Warner (TWX) - DJ
- Rockwell Automation (ROK) Said to Attract Takeover Interest from Schneider Electric - Source
Get daily under-the-radar research with StreetInsider.com's Stealth Growth Insider Get your 2-Wk Free Trial here.
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.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Imperial Capital Raises Price Target on Proofpoint (PFPT) Following Strong 3Q Results
- RBC Capital Raises Price Target on Danaher (DHR) Following 'Clean' 3Q Report
- Philip Morris Intl (PM) PT Raised to $101 at Jefferies
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change
Related EntitiesRobert W Baird, 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!