SunEdison (SUNE) SOTP Equals $32/Share, Einhorn Presentation

A few days ago, David Einhorn of Greenlight Capital presented his long thesis on SunEdison (NYSE: SUNE) at the Robin Hood Conference. Now slides from the presentation are available.

In the presentation, Einhorn calls SunEdison "a well‐run, financially savvy company, benefiting from an open ended growth opportunity trading at a bargain price." He calls the stock misunderstood by the market and said the best way to value the company is the sum of its parts, which equals about $32 per share.

"SunEdison’s core development business is worth $15 per share, the Terraform stake is worth $4.50, the IDRs are worth around $9 and a couple other assets are worth another $3," he said. "This sums to about $32 per share, which is a good distance from where the stock is trading."

You May Also Be Interested In

• Bessent on bonds: buyback could be more than 4 billion - CNBC
• Deutsche Bank Starts Ardagh Metal Packaging S.A. (AMBP) at Hold
• Seaport Global Securities Upgrades Analog Devices (ADI) to Buy, 'appears to be entering the sweet part of the cycle'