RBC Capital Increases Sunedison Price Target to $24.00 (SUNE)
Equities researchers at RBC Capital increased their target price on shares of Sunedison (NASDAQ:SUNE) from $20.00 to $24.00 in a research report issued on Friday. The firm currently has an “outperform” rating on the stock. RBC Capital’s price target would indicate a potential upside of 11.16% from the company’s current price.
Sunedison (NASDAQ:SUNE) opened at 21.59 on Friday. Sunedison has a one year low of $6.24 and a one year high of $24.35. The stock’s 50-day moving average is $21.95 and its 200-day moving average is $19.12. The company’s market cap is $5.782 billion. Sunedison also saw unusually large options trading on Wednesday. Stock traders bought 15,026 put options on the company. This is an increase of approximately 164% compared to the average volume of 5,685 put options.
Sunedison (NASDAQ:SUNE) last released its earnings data on Thursday, August 7th. The company reported $0.12 EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.28) by $0.40. The company had revenue of $557.50 million for the quarter, compared to the consensus estimate of $571.80 million. During the same quarter in the prior year, the company posted ($0.19) earnings per share. The company’s quarterly revenue was up 13.4% on a year-over-year basis. Analysts expect that Sunedison will post $-0.63 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Morgan Stanley raised their price target on shares of Sunedison from $24.00 to $28.00 in a research note on Tuesday, July 22nd. They now have an “overweight” rating on the stock. Separately, analysts at Axiom Securities initiated coverage on shares of Sunedison in a research note on Thursday, July 17th. They set a “buy” rating on the stock. Finally, analysts at Canaccord Genuity initiated coverage on shares of Sunedison in a research note on Wednesday, July 2nd. They set a “buy” rating and a $30.00 price target on the stock. One analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $25.42.
SunEdison Inc, formerly MEMC Electronic Materials, Inc, is engaged in the development, manufacture and sale of silicon wafers.
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