UPDATE: Canaccord Genuity Starts Opower (OPWR) at Buy

Canaccord Genuity initiated coverage on Opower (NYSE: OPWR) with a Buy rating and a price target of $25.00.

Analyst Richard Davis said, "In the near term at least, we believe projections are conservative enough that upward estimate revisions, combined with prospects for revenue growth near 30%, should be enough to enable the stock to advance at least 20% in the face of a potential, gradual multiple compression. Longer term, for the stock to sustain its premium valuation, we will need to see an upward bend in the growth curve from ramping sales capacity, and management will need to articulate and execute against a clear path to profitability – hopefully sooner than estimates suggest."

For an analyst ratings summary and ratings history on Opower click here. For more ratings news on Opower click here.

Shares of Opower closed at $20.43 yesterday.

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