Finally, analysts at Needham & Company LLC raised their price target on shares of Sunedison from $34.00 to $36.00 and gave the company a “buy” rating in a research note on Wednesday, June 17th. Analysts at Deutsche Bank reiterated a “buy” rating on shares of Sunedison in a research note on Monday. Analysts at Zacks downgraded shares of Vivint Solar Holdings from a “buy” rating to a “hold” rating in a research note on Wednesday, May 6th.
Advertisement
SunEdison (NYSE:SUNE) traded down -2.87% on 21 July, hitting $30.75. Analysts at Northland Securities raised their price target on shares of Sunedison from $39.00 to $42.00 and gave the company an outperform rating in a research note on Tuesday. One analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have assigned a buy rating to the stock.
Shares of Atmel Corporation (NASDAQ:ATML), declined -1.56% to $8.84, during its last trading session. Sunedison has a 52-week low of $13.09 and a 52-week high of $33.45. The company’s market cap is $7.60 billion. The company has an average rating of “Buy” and an average target price of $37.55. The company reported ($0.57) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.38) by $0.19. The company had revenue of $32.00 million for the quarter, compared to the consensus estimate of $491.77 million. During the same quarter in the prior year, the company posted ($2.31) earnings per share. “This project makes a direct and powerful contribution towards India’s goal of generating 100GW of solar power by 2022”. The Companys Solar Energy segment includes the operations of its old Solar Materials segment, as well as its SunEdison business.
SunEdison has signed a long-term power purchase agreement with Tata Power Delhi Distribution Limited (TPDDL) to provide 180MW AC of utility-scale solar power for New Delhi. The Company has developed a streamlined process incorporating its software, which enables it to efficiently design and install a custom solar energy system that delivers customer savings.
Advertisement
Certain matters discussed in this press release are forward-looking statements, including: the people of New Delhi will benefit from clean, reliable and affordable energy as a result of this project; the solar power plant will be built in Madhya Pradesh and is expected to supply TPDDL with electricity over the next 20 years; and the plants are projected to generate 375,000 megawatt-hours a year, and eliminate the emission of approximately 300,000 metric tons of carbon dioxide per year, equivalent to taking more than 54,000 cars off the road.
