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Fly News Breaks for November 11, 2015
SUNE
Nov 11, 2015 | 07:56 EDT
After SunEdison reported higher than expected Q3 shipments but reported lower than expected EPS, RBC Capital thinks the company is embracing the correct strategy by lowering its MW guidance, shifting towards more third party sales and cutting its operating spending. The firm thinks the company is "progressing towards sustainable growth" but expects the stock to continue to be volatile in the near-term. It cut its price target on the name to $20 from $24 but keeps an Outperform rating on the shares.
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