SunEdison (SUNE) Defended at Deutsche Bank
Deutsche Bank reiterated a Buy rating on SunEdison (NYSE: SUNE) with a price target of $28. Analyst Vishal Shah called weakness a buying opportunity.
Shah explained, "Combination of perceived increase of complexity of the core business along with TERP's involvement in the warehouse equity financing have been creating pressure on shares today, in our view. We acknowledge that investors may need a few quarters of proven execution and signs of cashflow improvement in order to get constructive on shares. That said, sentiment is near record lows, devco margins are improving and the core business should start generating cash from 2H16."
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Shares of SunEdison closed at $7.40 yesterday.