8point3 Energy Partners LP (NASDAQ:CAFD) Has Gained a Vote of Confidence Today From Goldman Sachs. What Does This Ultimately Mean?

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8point3 Energy Partners LP (NASDAQ:CAFD) Stock Upgrade

The rating of 8point3 Energy Partners LP (NASDAQ:CAFD) was boosted today by professional analysts at Goldman Sachs to a Buy rating in a comprehensive report.

From a total of 11 analysts covering 8point3 Energy Partners LP (NASDAQ:CAFD) stock, 7 rate it a ”Buy”, 0 a “Sell”, and 4 a ”Hold”. This means that 64% of the ratings are positive. The highest target price is $22 while the lowest target price is $11. The mean of all analyst targets is $18.27 with a 40.41% above today’s ($12.25) stock price. 8point3 Energy Partners LP was the topic of 7 analyst reports since August 12, 2015 according to the firm StockzIntelligence Inc. Oppenheimer initiated shares on October 14 with “Outperform” rating. Deutsche Bank maintained CAFD stock in a recent report from September 28 with “Buy” rating. Finally, Barclays Capital initiated the stock with “Equal Weight” rating in a report issued on a September 1.

The stock increased 0.16% or $0.02 on December 1, striking $12.25. Approximately shares of stock traded hands. 8Point3 Energy Partners LP (NASDAQ:CAFD) has risen 6.00% since November 2, 2015 and is uptrending. It has outperformed by 6.20% the S&P500.

 8point3 Energy Partners LP (NASDAQ:CAFD) Has Gained a Vote of Confidence Today From Goldman Sachs. What Does This Ultimately Mean?

Analysts await 8Point3 Energy Partners LP (NASDAQ:CAFD) to reports earnings on December, 30. CAFD’s profit will be $2.11M for 102.08 P/E if the $0.03 EPS becomes reality. After $0.05 actual earnings per share reported by 8Point3 Energy Partners LP for the previous quarter, Wall Street now forecasts -40.00% negative EPS growth.

8point3 Energy Partners LP is a limited partnership formed by First Solar and SunPower to own, operate and acquire solar energy generation projects. The company has a market cap of $861.27 million. The Company’s portfolio includes utility projects, and commercial and industrial (C&I) projects. It currently has negative earnings. The Company’s utility projects include MarylandSolar project, a 100% owned project located in Maryland; Solar Gen 2 project, a 49% owned project located in California; Lost Hills / Blackwell project, a 49% owned project located in California; North Star project, a 49% owned project located in California; RPU project, a 100% owned project located in California, and Quinto project, a 100% owned project located in California.

According to Zacks Investment Research, “8point3 Energy Partners LP owns, operates and acquires solar energy generation projects primarily in the United States. It serves residential, commercial and industrial customers. 8point3 Energy Partners LP is based in San Jose.” Get a free copy of the Zacks research report on 8Point3 Energy Partners LP (CAFD).

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