TerraForm Power Inc. (TERP) Receives “Hold” Rating from Deutsche Bank AG
TerraForm Power Inc. (NASDAQ:TERP)‘s stock had its “hold” rating restated by research analysts at Deutsche Bank AG in a research report issued on Monday. They currently have a $13.00 price objective on the stock. Deutsche Bank AG’s target price indicates a potential downside of 4.06% from the stock’s previous close.
Several other equities research analysts have also commented on TERP. Oppenheimer Holdings Inc. reiterated a “market perform” rating on shares of TerraForm Power in a research note on Wednesday, July 27th. Avondale Partners upgraded shares of TerraForm Power from a “market perform” rating to an “outperform” rating and set a $15.00 price objective for the company in a research note on Wednesday, June 29th. Robert W. Baird set a $13.00 price objective on shares of TerraForm Power and gave the company a “neutral” rating in a research note on Friday, September 23rd. Finally, Zacks Investment Research upgraded shares of TerraForm Power from a “strong sell” rating to a “hold” rating in a research note on Thursday, June 16th. Nine analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. TerraForm Power presently has an average rating of “Hold” and an average price target of $13.33.
Shares of TerraForm Power (NASDAQ:TERP) traded up 0.44% during midday trading on Monday, hitting $13.61. The company had a trading volume of 80,086 shares. TerraForm Power has a 12-month low of $6.73 and a 12-month high of $20.12. The company’s market capitalization is $1.70 billion. The company’s 50-day moving average price is $13.21 and its 200 day moving average price is $10.87.
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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TERP. Brookfield Asset Management Inc. raised its position in TerraForm Power by 1,284.4% in the second quarter. Brookfield Asset Management Inc. now owns 11,075,000 shares of the company’s stock worth $120,718,000 after buying an additional 10,275,000 shares in the last quarter. Nomura Holdings Inc. acquired a new position in TerraForm Power during the second quarter worth $96,731,000. Vanguard Group Inc. raised its position in TerraForm Power by 15.1% in the second quarter. Vanguard Group Inc. now owns 6,329,375 shares of the company’s stock worth $68,991,000 after buying an additional 829,308 shares in the last quarter. Credit Suisse AG raised its position in TerraForm Power by 1,037.4% in the second quarter. Credit Suisse AG now owns 5,494,690 shares of the company’s stock worth $59,892,000 after buying an additional 5,011,607 shares in the last quarter. Finally, First Trust Advisors LP raised its position in TerraForm Power by 215.6% in the second quarter. First Trust Advisors LP now owns 3,770,609 shares of the company’s stock worth $41,100,000 after buying an additional 2,575,873 shares in the last quarter. Institutional investors and hedge funds own 93.24% of the company’s stock.
About TerraForm Power
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