HSBC Remains Sidelined on Atlantica Yield plc (AY)

HSBC reiterated a Hold rating and $20.00 price target on Atlantica Yield plc (NASDAQ: AY) following Algonquin's announcement that it is acquiring an additional 16.5% stake in AY from parent Abengoa.

If approved, Algonquin will raise its stake in AY to 41.5% following its initial purchase of 25% of AY shares from ABG in March 2018 (for USD24.25 per share). Analyst Sean McLoughlin believes that the lower price premium of the additional tranche reflects the seller’s willingness to complete the sale.

For an analyst ratings summary and ratings history on Atlantica Yield plc click here. For more ratings news on Atlantica Yield plc click here.

Shares of Atlantica Yield plc closed at $19.60 yesterday.

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