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Fly News Breaks for November 23, 2015
TERP, VSLR, SUNE
Nov 23, 2015 | 06:58 EDT
Deutsche Bank analyst Vishal Shah lowered his price target for SunEdison (SUNE) to $9 after analyzing the company's cash situation under two scenarios. Scenario one has management taking no action and scenario two has management restructuring the Vivint Solar (VSLR) transaction, selling Vivent operating assets, refinancing margin loan and entering into strategic third party sales. Scenario one would bring "considerable downside risk" to shares while the second scenario would bring "reasonable upside," Shah tells investors in a research note. Near term cash outflow for SunEdison and TerraForm Power (TERP) could be significant with no management action, the analyst contends. He cut his price target for TerraForm Power to $18 from $30. Shah keeps a Buy rating on both SunEdison and TerraForm Power.
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