Deutsche Bank Reiterates Buy Rating on SunEdison (SUNE)

Deutsche Bank reiterated a Buy rating on SunEdison (NYSE: SUNE) with a price target of $35. Comments follow Q3 results.

Analyst Vishal Shah said, "SunEdison reported ongoing strength in project completion outlook, retained projects above guidance, and gave increased visibility into value creation from Terraform, which could reach lvl 4 IDR structure by mid 2017 under what we believe are conservative assumptions. Actual projects retained on balance sheet are exceeding the 50% target, which could enable faster IDR accretion. Increased 2015 project completion guidance of ~1.6-1.8GW indicates ongoing strength in execution platform, while further clarity around residential rollout, international yieldco, and backlog growth from India, China, and other emerging markets should act as catalysts for shares."

For an analyst ratings summary and ratings history on SunEdison click here. For more ratings news on SunEdison click here.

Shares of SunEdison closed at $18.88 yesterday.

You May Also Be Interested In

• Extreme Networks (EXTR) PT Raised to $39 at Rosenblatt
• BofA Securities Double Upgrades Intel (INTC) to Buy
• Leerink Downgrades Procept BioRobotics Corp (PRCT) to Market Perform