Needham & Company Increases Sunedison Price Target to $18.00 (SUNE)
Equities researchers at Needham & Company lifted their price objective on shares of Sunedison (NASDAQ:SUNE) to $18.00 in a research report issued on Thursday, American Banking News reports. Needham & Company’s price objective would indicate a potential upside of 14.21% from the company’s current price.
Shares of Sunedison (NASDAQ:SUNE) opened at 15.76 on Thursday. Sunedison has a 1-year low of $3.95 and a 1-year high of $16.25. The stock has a 50-day moving average of $14.34 and a 200-day moving average of $10.9. The company’s market cap is $4.202 billion. Sunedison also saw some unusual options trading activity on Wednesday. Stock traders acquired 11,183 put options on the stock. This represents an increase of approximately 111% compared to the typical volume of 5,311 put options.
A number of other analysts have also recently weighed in on SUNE. Analysts at FBR Capital Markets initiated coverage on shares of Sunedison in a research note on Wednesday. They set an “outperform” rating and a $15.18 price target on the stock. Analysts at Gilford Securities raised their price target on shares of Sunedison from $13.00 to $18.00 in a research note on Friday, January 10th. They now have a “buy” rating on the stock. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $15.65.
SunEdison Inc, formerly MEMC Electronic Materials, Inc, is engaged in the development, manufacture and sale of silicon wafers.
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