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Fly News Breaks for August 25, 2015
SUNE, TERP
Aug 25, 2015 | 07:32 EDT
UBS believes TerraForm's (TERP) 5.8% yield will support its shares and limit downside risk. The reduced downside risk is attributed to the asset ownership at the YieldCo, expectations for SunEdison (SUNE) to continue to drop assets into TerraForm at lower margins, and its lower cost of capital. UBS reiterated its Buy rating but lowered its price target to $30 from $34 on TerraForm shares. The firm also downgraded SunEdison to Neutral from Buy this morning.
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