Short Term Price Target on TerraForm Power (TERP)

TerraForm Power (NASDAQ:TERP) stock is expected to deviate a maximum of $3.94 from the average target price of $14.5 for the short term period. 6 Street Experts have initiated coverage on the stock with the most promising target being $20 and the most muted being $10.

Shares of TerraForm Power, Inc. rose by 19.39% in the last five trading days and 26.3% for the last 4 weeks. TerraForm Power, Inc. is up 10.89% in the last 3-month period. Year-to-Date the stock performance stands at -13.35%. Also, Equity analysts at the Brokerage firm Goldman Sachs reinstates its rating on TerraForm Power (NASDAQ:TERP). The rating major has initiated the coverage with neutral rating on the shares. The Analysts at Goldman Sachs announces a current price target of $10 per share. The rating by the firm was issued on May 2, 2016.

TerraForm Power (NASDAQ:TERP) : The consensus on TerraForm Power (NASDAQ:TERP) based on 6 analyst recommendation on the company stock is 2.33, which is interpreted as a Buy recommendation. Zacks Investment Research has issued a rank of 3 which endorses a Hold on the stock. However, 2 brokers have a differing view as they consider the stock to be a Strong Buy at current levels. 4 experts consider that the stocks earnings and the quoted price is in harmony, hence, they give it a Hold rating.

TerraForm Power (NASDAQ:TERP): During Thursdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $10.41 and $10.40 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $10.97. The buying momentum continued till the end and the stock did not give up its gains. It closed at $10.90, notching a gain of 5.42% for the day. The total traded volume was 6,719,311 . The stock had closed at $10.34 on the previous day.

In an insider trading activity, The Securities and Exchange Commission has divulged in a Form 4 filing that the CEO of Terraform Power, Inc., Domenech Carlos had purchased shares worth of $122,940 in a transaction dated on August 25, 2015. A total of 6,000 shares were purchased at a price of $20.49 per share. The information is based on open market trades at the market prices.Option exercises are not covered.

TerraForm Power, Inc. (TerraForm Power), formerly SunEdison Yieldco, Inc., owns and operates contracted clean power generation assets. The Company operates the power generation assets of SunEdison, Inc. and its consolidated subsidiaries (SunEdison), and third parties. It focuses on acquiring solar and wind generation assets serving utility, commercial and residential customers. Its portfolio consists of solar and wind projects located in the United States, Canada, the United Kingdom, and Chile with an aggregate nameplate capacity of 1,507.3 Megawatts as of February 20, 2015. Its portfolio as of February 20, 2015 includes both solar generation facilities and wind power plants consisting of 1,223.4 Megawatts of nameplate capacity from utility-scale power plants and 283.9 Megawatts of nameplate capacity of commercial, industrial, Government and residential customers. It is the managing member of Terra LLC, and operates, controls and consolidates the business affairs of Terra LLC.

Leave a Reply

Get Pre-Market Alerts!

Get Pre-Market Analysts' Upgrades, Downgrades, Earnings & Initiations with our FREE daily email newsletter.