Sunedison’s Buy Rating Reaffirmed at Deutsche Bank (SUNE)
Sunedison (NASDAQ:SUNE)‘s stock had its “buy” rating reaffirmed by research analysts at Deutsche Bank in a report released on Monday. They currently have a $35.00 price target on the stock, up from their previous price target of $13.00. Deutsche Bank’s price objective points to a potential upside of 62.72% from the stock’s previous close. The analysts noted that the move was a valuation call.
In other Sunedison news, Director Steven Vincent Tesoriere sold 6,000,000 shares of Sunedison stock on the open market in a transaction dated Monday, June 9th. The stock was sold at an average price of $19.43, for a total value of $116,580,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
Sunedison (NASDAQ:SUNE) traded up 10.93% on Monday, hitting $21.51. The stock had a trading volume of 20,858,244 shares. Sunedison has a 52 week low of $6.24 and a 52 week high of $21.93. The stock’s 50-day moving average is $19.10 and its 200-day moving average is $16.77. The company’s market cap is $5.761 billion.
Sunedison (NASDAQ:SUNE) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.25) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.17) by $0.08. The company had revenue of $546.50 million for the quarter, compared to the consensus estimate of $593.88 million. Sunedison’s revenue was up 33.9% compared to the same quarter last year. Analysts expect that Sunedison will post $-0.36 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on SUNE. Analysts at Stifel Nicolaus initiated coverage on shares of Sunedison in a research note on Wednesday, May 28th. They set a “hold” rating on the stock. Separately, analysts at Brean Capital reiterated a “hold” rating on shares of Sunedison in a research note on Thursday, May 15th. Finally, analysts at Zacks reiterated an “underperform” rating on shares of Sunedison in a research note on Tuesday, May 13th. They now have a $16.00 price target on the stock. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and twelve have given a buy rating to the company’s stock. Sunedison currently has a consensus rating of “Buy” and a consensus target price of $23.02.
SunEdison Inc, formerly MEMC Electronic Materials, Inc is engaged in the development, manufacture and sale of silicon wafers.
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