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Fly News Breaks for December 27, 2018
PEGI
Dec 27, 2018 | 07:18 EDT
BofA Merrill Lynch analyst Julien Dumoulin-Smith upgraded Pattern Energy to Neutral from Underperform citing the stock's recent underperformance compared to YieldCo peers, which he views as overdone. His expectation is that Pattern Energy will continue to support its dividend at a high payout ratio despite his belief that the Gulf Wind contract roll-off and repower will materially impact 2019 CAFD, Dumoulin-Smith tells investors. He lowered his price target on Pattern Energy shares to $18.50 from $20.
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