(Updated)

Oppenheimer initiated coverage on SunEdison (NYSE: SUNE) with an Outperform rating and a price target of $18.00.

Analyst Colin Rusch said, "We see SUNE positioning to become the leading global diversified renewables platform in what we expect will be a robust market for renewable energy."

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

Shares of SunEdison closed at $11.99 yesterday.