JMP Securities Reiterates “Outperform” Rating for Azure Power Global (AZRE)
Azure Power Global (NYSE:AZRE)‘s stock had its “outperform” rating reaffirmed by equities researchers at JMP Securities in a research note issued to investors on Thursday, The Fly reports. They currently have a $30.00 price target on the energy company’s stock, up from their prior price target of $26.00. JMP Securities’ target price points to a potential upside of 150.00% from the stock’s previous close.
AZRE has been the subject of a number of other research reports. Janney Montgomery Scott assumed coverage on Azure Power Global in a report on Friday, August 17th. They issued a “buy” rating for the company. ValuEngine upgraded Azure Power Global from a “sell” rating to a “hold” rating in a report on Wednesday, July 25th. Zacks Investment Research downgraded Azure Power Global from a “hold” rating to a “sell” rating in a report on Tuesday, July 31st. Finally, Credit Suisse Group downgraded Azure Power Global to a “buy” rating and decreased their price objective for the stock from $24.00 to $22.00 in a report on Tuesday. Two investment analysts have rated the stock with a sell rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $21.67.
AZRE opened at $12.00 on Thursday. The company has a quick ratio of 3.81, a current ratio of 3.81 and a debt-to-equity ratio of 4.43. The firm has a market capitalization of $420.63 million, a price-to-earnings ratio of -18.46 and a beta of 1.89. Azure Power Global has a 12-month low of $11.69 and a 12-month high of $18.10.
Azure Power Global Company Profile
Azure Power Global Limited, together with its subsidiaries, engages in the development, construction, ownership, operation, maintenance, and management of solar power plants in India. It generates solar energy based on long-term contracts with Indian government energy distribution companies, as well as other non-governmental energy distribution companies and commercial customers.
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