Oppenheimer Sticks to Its Buy Rating for TerraForm Power (TERP)

Oppenheimer analyst Colin Rusch reiterated a Buy rating on TerraForm Power (TERP) today and set a price target of $14. The company’s shares opened today at $11.06.

Rusch commented:

“TerraForm’s 3Q18 financial performance beat expectations on revenue and cash flow metrics, despite disappointing wind production in the Saeta portfolio. We believe these financial results are the result of key operational investments in power plant performance across the portfolio. We expect TERP to continue streamlining operations through both solar and wind upgrades. The company also seems likely to leverage its existing interconnection footprint with the integration of energy storage as well as to grow its EU platform through select acquisitions. We believe recent financings provide sufficient liquidity for growth as TERP continues to optimizes cost of capital with the support of its parent company. We remain bullish and reiterate our $14 PT.”

According to, Rusch is a 5-star analyst with an average return of 10.7% and a 51.3% 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 $11.50.

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The company has a one-year high of $13.21 and a one-year low of $9.90. Currently, TerraForm Power has an average volume of 612.5K.

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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.