Roth Capital Begins Coverage on Azure Power Global Ltd (AZRE)
Research analysts at Roth Capital started coverage on shares of Azure Power Global Ltd (NYSE:AZRE) in a research note issued on Tuesday. The firm set a “buy” rating and a $22.00 price target on the stock. Roth Capital’s target price would suggest a potential upside of 22.36% from the company’s current price.
Separately, Credit Suisse Group AG set a $21.00 price objective on shares of Azure Power Global and gave the stock a “buy” rating in a report on Thursday, November 24th.
Shares of Azure Power Global (NYSE:AZRE) traded up 0.274% during trading on Tuesday, hitting $17.949. 873 shares of the stock traded hands. Azure Power Global has a 1-year low of $12.73 and a 1-year high of $18.55. The company’s market cap is $31.55 million. The stock has a 50-day moving average of $16.39 and a 200 day moving average of $16.39.
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About Azure Power Global
Azure Power Global Limited is an India-based power producer. The Company sells solar power in India on long term fixed price contracts to its customers. The Company is also developing micro-grid applications for the highly fragmented and underserved electricity market in India. The Company operates approximately 20 utility scale projects and several commercial rooftop projects with a combined rated capacity of approximately 240 megawatts.
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