Axiom Capital Upgrades SunEdison (SUNE) to Hold; But Still Sees 40% Downside
Get Alerts SUNE Hot Sheet
Price: $0.34 --0%
Rating Summary:
11 Buy, 6 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 13
Rating Summary:
11 Buy, 6 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 13
Join SI Premium – FREE
Axiom Capital upgraded SunEdison (NYSE: SUNE) from Sell to Hold but maintained its price target of $2.00, or 40% downside.
Analyst Gordon Johnson said while the company claims its recent action reduces debt, they see the refinancing as "shockingly" diluted and adding to debt. Specifically, the firm said it will grow debt $196 million, interest expense by $50.8 million and equity dilution of 17.8% overall.
For an analyst ratings summary and ratings history on SunEdison click here. For more ratings news on SunEdison click here.
Shares of SunEdison closed at $3.34 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Keefe, Bruyette & Woods Upgrades Trustmark (TRMK) to Outperform
- Merck (MRK) PT Raised to $143 at Truist Securities
- Sage Therapeutics (SAGE) PT Lowered to $18 at Truist Securities
Create E-mail Alert Related Categories
Analyst Comments, UpgradesRelated Entities
Gordon JohnsonSign 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!