Raymond James Upgrades 8point3 Energy Partners LP (CAFD) to Strong Buy; Sees Nearly 100% Upside
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Raymond James upgraded 8point3 Energy Partners LP (NASDAQ: CAFD) from Outperform to Strong Buy with a price target of $27.00.
Analyst Pavel Molchanov commented, "Within the emerging asset class of U.S.-listed yieldcos, 8point3 is unique for having not one but two parent companies. Backed by two of the largest U.S.-based PV project developers - SunPower and First Solar - there is ample room for growth via dropdowns from the sponsors, and potentially third-party acquisitions as well. Following the stock's 31% drop since its IPO less than two months ago - a textbook instance of non-fundamental, sentiment-based multiple compression - we are upgrading 8point3 from Outperform to Strong Buy."
Shares of 8point3 Energy Partners LP closed at $14.22 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, Hot Upgrades, Upgrades
Related EntitiesRaymond James, Pavel Molchanov, IPO
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