Oppenheimer Believes TerraForm Power (TERP) Won’t Stop Here


Oppenheimer analyst Colin Rusch maintained a Buy rating on TerraForm Power (TERP) today and set a price target of $15. The company’s shares opened today at $12.63, close to its 52-week high of $12.72.

Rusch commented:

“TERP continues to execute on its detailed evaluation and management of its portfolio while improving its balance sheet. We believe the company has carefully assessed its risk with Spanish policy and may see share appreciation as that risk is taken off the table in coming months. At the same time, TERP is moving forward with growth plans focusing on wind asset repowering where the company anticipates 9%-11% equity returns. With the company raising the dividend and showing a clear path to growing cash flow without raising additional equity, at least for the near term, we remain constructive on shares and raise our PT to $15 as we flow through dividend adjustments.”

According to TipRanks.com, Rusch is a 5-star analyst with an average return of 12.5% and a 50.6% success rate. Rusch covers the Industrial Goods sector, focusing on stocks such as Capstone Turbine Corp, Amer Superconductor, and Canadian Solar Inc.

TerraForm Power has an analyst consensus of Moderate Buy, with a price target consensus of $13.67.

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Based on TerraForm Power’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $33.59 million. In comparison, last year the company had a GAAP net loss of $113 million.

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TerraForm Power, Inc. engages in the acquisition of renewable energy assets. It operates through Solar and Wind segments. The Solar segment consists of Distributed Generation, North America Utility, and International Utility. The Wind segment comprises of Northeast Wind, Central Wind and Hawaii Wind.