Sunedison Trading Up 8.1% After Analyst Upgrade (SUNE)
Sunedison (NASDAQ:SUNE) was up 8.1% during mid-day trading on Wednesday after Credit Suisse raised their price target on the stock from $17.00 to $34.00, AnalystRatingsNetwork.com reports. Credit Suisse currently has an outperform rating on the stock. Sunedison traded as high as $18.74 and last traded at $18.36, with a volume of 20,837,245 shares traded. The stock had previously closed at $16.98.
Several other analysts have also recently commented on the stock. Analysts at Needham & Company raised their price target on shares of Sunedison from $15.00 to $18.00 in a research note on Thursday, February 20th. They now have a “buy” rating on the stock. Separately, analysts at FBR Capital Markets initiated coverage on shares of Sunedison in a research note on Wednesday, February 19th. They set an “outperform” rating and a $15.18 price target on the stock. Finally, 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 investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. Sunedison has an average rating of “Buy” and a consensus price target of $19.80.
The stock has a 50-day moving average of $14.65 and a 200-day moving average of $11.22. The company’s market cap is $4.950 billion.
Sunedison (NASDAQ:SUNE) last posted its quarterly earnings results on Wednesday, February 19th. The company reported ($0.48) earnings per share for the quarter, missing the analysts’ consensus estimate of $0.22 by $0.70. The company had revenue of $960.70 billion for the quarter, compared to the consensus estimate of $1.07 billion. Analysts expect that Sunedison will post $0.13 EPS for the current fiscal year.
SunEdison Inc, formerly MEMC Electronic Materials, Inc is engaged in the development, manufacture and sale of silicon wafers.
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