BofA/Merrill Lynch Downgrades Pattern Energy Group (PEGI) to Neutral

BofA/Merrill Lynch downgraded Pattern Energy Group (NASDAQ: PEGI) from Buy to Neutral with a price target of $33.00 (from $36.00) citing more risk, less visibility.

Analyst Brian Chin said the downgrade comes given perceived increased risk related to cost and operational issues at select assets, less contracting and increased offtaker credit risk at other assets, and relatively less growth visibility than peers.

For an analyst ratings summary and ratings history on Pattern Energy Group click here. For more ratings news on Pattern Energy Group click here.

Shares of Pattern Energy Group closed at $31.70 yesterday.

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