Sunedison Receives New Coverage from Analysts at Canaccord Genuity (SUNE)
Equities researchers at Canaccord Genuity started coverage on shares of Sunedison (NASDAQ:SUNE) in a research report issued on Wednesday, TheFlyOnTheWall.com reports. The firm set a “buy” rating and a $30.00 price target on the stock. Canaccord Genuity’s price target would indicate a potential upside of 29.76% from the company’s current price.
SUNE has been the subject of a number of other recent research reports. Analysts at Needham & Company LLC raised their price target on shares of Sunedison to $26.00 in a research note on Wednesday, June 18th. Separately, analysts at Macquarie initiated coverage on shares of Sunedison in a research note on Tuesday, June 17th. They set an “outperform” rating on the stock. Finally, analysts at Goldman Sachs initiated coverage on shares of Sunedison in a research note on Tuesday, June 17th. They set a “neutral” rating on the stock. Two analysts have rated the stock with a sell rating, four have issued a hold rating and twelve have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $24.22.
Sunedison (NASDAQ:SUNE) traded down 0.17% on Wednesday, hitting $23.08. The stock had a trading volume of 5,155,123 shares. Sunedison has a 52-week low of $6.24 and a 52-week high of $23.39. The stock has a 50-day moving average of $20.19 and a 200-day moving average of $17.6. The company’s market cap is $6.181 billion.
Sunedison (NASDAQ:SUNE) last posted its quarterly earnings results on Thursday, May 8th. The company reported ($0.25) EPS for the quarter, missing the Thomson Reuters 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. The company’s quarterly revenue was up 33.9% on a year-over-year basis. Analysts expect that Sunedison will post $-0.42 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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