Raymond James Upgrades 8point3 Energy Partners LP (CAFD) to Strong Buy; Sees Nearly 100% Upside

August 12, 2015 8:00 AM EDT
Get Alerts CAFD Hot Sheet
Price: $12.42 --0%

Rating Summary:
    3 Buy, 10 Hold, 3 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 19 | Down: 13 | New: 24
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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."

For an analyst ratings summary and ratings history on 8point3 Energy Partners LP click here. For more ratings news on 8point3 Energy Partners LP click here.

Shares of 8point3 Energy Partners LP closed at $14.22 yesterday.

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Raymond James, Pavel Molchanov, IPO