UPDATE: Oppenheimer Starts NRG Yield (NYLD) at Perform
- Donald Trump Sworn in as 45th U.S. President
- Wall Street ends higher as Trump becomes president
- Walgreens Boots Alliance (WBA) Said to Face Antitrust Concern for Rite Aid (RAD) Fix - Bloomberg
- Bristol-Myers Squibb (BMY) Says It Won't Pursue Accelerated U.S. Regulatory Pathway for Opdivo Plus Yervoy in Lung Cancer
- Apple (AAPL) Sues Qualcomm (QCOM) Over Patent Royalties in Antitrust Case - Bloomberg
Get inside Wall Street with StreetInsider Premium. Claim your 2-week free trial here.
(Updated - September 8, 2016 9:52 AM EDT)
Oppenheimer initiated coverage on NRG Yield (NYSE: NYLD) with a Perform rating. Analyst Colin Rusch noted that the company is highly levered relative to peers.
"We believe that NYLD benefits from its scale and diverse portfolio of generating assets. However, the company is also highly levered relative to peers, and while we acknowledge the cash flow-matching characteristics inherent in its debt portfolio, we note that cash flow variability caused by resource availability could result in a strain on the company’s liquidity. We also note that our runoff scenario suggests that without additional CAFDS-accretive acquisitions, the company risks not being able to meet its current debt service and simultaneously achieve its goal of 15% annual dividend growth," said Rusch.
Shares of NRG Yield closed at $17.33 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Skyworks Solutions (SWKS) PT Raised to $105 at Oppenheimer Following 1Q Report
- Checkpoint Software (CHKP) PT Raised to $94 at Stifel Following 4Q Beat
- Bassett Furniture (BSET) PT Raised to $28 at Stifel Following 4Q EPS Beat
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS View, New Coverage
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!