SunEdison Puts Unwarranted Liquidity Concerns To Rest
Dec. 11, 2015 10:58 AM ET | 15 comments | About: SunEdison (SUNE), Includes: GLBL, TERP, VSLR
Disclosure: I am/we are long SUNE, TERP. (More...)
Summary
•We discuss the impact of recent events on SunEdison shareholder interests.
•We discuss the importance of the JPMorgan project sale and why it is an important development.
•We offer our view on SunEdison's valuation taking into account impending California Net Metering ruling.
SunEdison's sale of 333MW of wind projects with equity value of $209M and enterprise value of $787M is a major development that we believe caps a tumultuous five weeks at the World's leading renewable energy developer.
Considering SunEdison is trading at a measly $4 level currently, the equity IS significantly undervalued and see the stock as a strong buy.
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