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Canaccord starts Abengoa Yield at Buy, raises Abengoa target to $44

  • Abengoa Yield (ABY) receives an Outperform rating from Canaccord, which initiates coverage of the energy and utility company with a price target of $49/share.
  • ABY offers a differentiated growth platform, optimization of cash dividends (target payout is 90%), and benefits from its relationship with Abengoa - a key differentiator vs. other yieldcos, the firm says.
  • Canaccord also raises its price target for Buy-rated Abengoa (ABGB) to $44 from $28, viewing the goal of positive free cash flow in 2014 as very achievable, while a debt re-rating also looms as a potential catalyst enabling accretive refinancing (Briefing.com).
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Comments (1)
  • disson13@gmail.com
    , contributor
    Comments (2) | Send Message
     
    Being EU based does anyone know if the shares in Europe differ in some way to U.S. I know of 2 for 1 . Is there other differences.
    8 Jul, 06:19 PM Reply Like
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