UPDATE: Bank of America Reiterates on Sun Edison Following Company Analyst Day

In a report published Wednesday, Bank of America analyst Krish Sankar reiterated a Buy rating on Sun Edison SUNE, and raised the price target from $18.00 to $20.00. In the report, Bank of America noted, “SUNE held its analyst day yesterday. Management provided 2014 solar energy guidance of 900-1150 MW to be completed in 2014 (prior target was 800-1050MW), including projects (400-500MW) to be retained on the balance sheet. Furthermore, the company foresees over 1.5GW of completions in 2015, and over 2GW in 2016. There was no update on the semiconductor segment due to the ongoing spin-off procedures. We reiterate our Buy rating.” Sun Edison closed on Tuesday at $16.98.