Axiom Capital Sees 'Credit Event' at SunEdison (SUNE)
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SunEdison (SUNE) Rating Cut to Neutral at JPMorgan as Situation Seen as 'Risky'; Firm Can Avoid Bankruptcy, Says Analyst
November 20, 2015 7:06 AM EST(Updated - November 20, 2015 9:33 AM EST)
JPMorgan downgraded SunEdison (NYSE: SUNE) from Overweight to Neutral with a price target of $5.50 (from $19.00). Shares have been in a 'death-spiral' for months and analyst Paul Coster sees the situation as risky, but he thinks the company can avoid bankruptcy.
"We think SUNE is still able to escape the ongoing liquidity crisis, but at a high cost owing to M&A over-commitment, reduced cash flow from the YieldCos, increased use of high-cost financing options and the negative impact this has on DevCo revenue-growth and margins relative to our... More
SunEdison (SUNE) Trades Near Session Lows
November 19, 2015 2:05 PM ESTSunEdison (NYSE: SUNE) shares dropped to session lows Thursday afternoon, declining over 9%.
