UBS Cuts Price Target on 8point3 Energy Partners (CAFD) to $12

November 29, 2016 9:09 AM EST
Get Alerts CAFD Hot Sheet
Price: $14.15 --0%

Rating Summary:
    14 Buy, 1 Hold, 2 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 15 | Down: 17 | New: 10
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UBS maintained a Sell rating on 8point3 Energy Partners LP (NASDAQ: CAFD), and cut the price target to $12.00 (from $14.00). Concerns over sponsor commitment linger, particularly given the more challenged backdrop for projects in 2017 and 2018.

Analyst Julien Dumoulin-Smith commented, "We are maintaining our Sell rating on CAFD with a lower price target of $12/sh, reflecting concerns around sponsor quality priced from FSLR and SPWR, and $1/sh of drop-down 'premium' to our core DCF value of $11/sh. CAFD is still trading at a premium to the DCF, in contrast to NYLD and PEGI peers, which are largely trading ~at DCF value (when employing a similar ~6% levered discount rate)."

For an analyst ratings summary and ratings history on 8point3 Energy Partners LP click here. For more ratings news on 8point3 Energy Partners LP click here.

Shares of 8point3 Energy Partners LP closed at $13.50 yesterday.

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