Avery Schumer
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Canaccord Sees Opower As Top 'Bounce Back' Candidate For 2016

The company reported above-consensus third-quarter financial results.

Following the earnings call, analysts at Canaccord reiterated a Buy rating and $14 price target on the shares.

According to the report, the experts believe the shares could benefit from the following:

  • 1. A new product cycle as extra customer-facing modules are rolled out
  • 2. “Sales efficiency from the bulge of 2014 sales hires as they get their footing in this long sales cycle to the utilities customer base
  • 3. “Buying demand as the heretofore correct ~8 million shares, 40+ days to cover short position proves to have overstayed its welcome.”