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Bank of America (Merrill Lynch) announced 8point3 Energy Partners LP (NASDAQ:CAFD), hiking its price target to $18.00 today

Only yesterday 8point3 Energy Partners LP (NASDAQ:CAFD) traded 2.70% higher at $14.93. 8point3 Energy Partners LP’s 50-day average is $14.90 and its two hundred day average is $15.26. With the last stock price close down -2.80% from the 200-day moving average, compared to the S&P 500 which has decreased -0.01% over the same time. 321,766 shares of CAFD traded, up from an average trading volume of 253,945

8point3 Energy Partners LP (NASDAQ:CAFD) had its target raised to $18.00 by Bank of America (Merrill Lynch) in a report released 10/18/2016. The new target price indicates a possible upside of 0.21% based on the company's previous stock price.

Performance Chart

8point3 Energy Partners LP (NASDAQ:CAFD)

8point3 Energy Partners LP has a price-earnings ratio of 7.06 with a 52 week low of $11.60 and a 52 week high of $17.34 The company’s market cap is currently $0.

A total of 12 brokerages have released a research note on CAFD. Four analysts rating the company a strong buy, five analysts rating the company a buy, 2 firms rating the stock a hold, 2 firms rating the stock a underperform, and finally 0 brokerages rating the stock a sell with a average stock price target of $17.67.

General Information About 8point3 Energy Partners LP (NASDAQ:CAFD)

8Point3 Energy Partners LP owns, operates and acquires solar energy generation projects. As of July 31, 2016, the Company owned a 28.2% limited liability company interest in 8point3 Operating Company, LLC (OpCo). As of July 31, 2016, the Company's portfolio consisted of interests in 530 megawatts (MW) of solar energy projects. As of July 31, 2016, the Company owned interests in eight utility-scale solar energy projects, all of which are operational. As of July 31, 2016, its assets represented 88% of the generating capacity of its portfolio. As of July 31, 2016, the Company owned interests in four commercial and industrial (C&I) solar energy projects, two of which were operational and two of which were in late-stage construction, and a portfolio of residential distributed solar generation (DG Solar) assets, which represent 12% of the generating capacity of the Company's portfolio. Its portfolio is located entirely in the United States and consists of utility-scale and C&I assets.

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