Deutsche Bank Pounds the Table on Sunedison Inc (SUNE)
Deutsche Bank analyst Vishal Shah was out pounding the table on Sunedison Inc (NYSE:SUNE) Friday, reiterating a Buy rating and a $6.50 price target, which implies an upside of 170% from current levels.
Shah wrote, “The Appaloosa case was one of the biggest overhangs on SUNE shares and a favorable decision clears the way for SUNE to close the VSLR transaction as well as should enable the company to focus on execution. In terms of timing, we expect the VSLR deal to be closed by March 18 and post the close, we really see one of two scenarios playing out – either SUNE finds a buyer for VSLR operating assets or TERP will be required to buy these assets. We believe there is a high probability that SUNE is able to find a buyer for these assets which would be a significant positive for both TERP and SUNE, in our view.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Vishal Shah has a yearly average return of -23.2% and a 23% success rate. Shah has a -68.7% average return when recommending SUNE, and is ranked #3658 out of 3675 analysts.