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Vetr Upgrades 8point3 On Market Uncertainty

Chris Dier-Scalise

The Vetr crowd downgraded their rating for 8Point3 Energy Partners LP (NASDAQ: CAFD) from 4.5 stars (Buy), issued three days ago, to 5 stars (Strong Buy). Crowd sentiment at the time of the upgrade was unanimously positive, with 100 percent of Vetr user ratings bullish.

The future of 8point3 is in question, according to analysts. It was reported following the release of its Q1 earnings that the company, a joint venture by First Solar, Inc. (NASDAQ: FSLR) and SunPower Corporation (NASDAQ: SPWR), could likely be losing the former when First Solar announced it was reviewing avenues for divestiture in its interest in the company.

Following the announcement Wednesday afternoon, CAFD opened more than 11 percent lower. The stock recovered slightly, closing at $12.15.

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Currently, the Vetr crowd's average target price for 8point3 is up at $14.53, which is still below the average analyst target price of $17.64. Less than 2 percent of Vetr users are holding CAFD in their watch lists.

Latest Ratings for CAFD

Date Firm Action From To
Apr 2017 Wells Fargo Downgrades Outperform Market Perform
Apr 2017 Oppenheimer Downgrades Outperform Market Perform
Jan 2017 Guggenheim Upgrades Neutral Buy

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