As the markets are recovering from the incredible volatility in August, stocks that were hit hard during this dip included those in alternative energy. However, one key analyst sees a buying opportunity for this segment. A new Oppenheimer report details where the firm thinks these companies are and what direction they stand to go.

24/7 Wall St. has included a few of the major companies from Oppenheimer’s report and how they play into the alternative energy space. We have also included a recent trading history, as well as the consensus target and the 52-week range.

First Solar Inc. (NASDAQ: FSLR) was initiated with an Outperform rating and a $61 price target, implying upside of 25% from current prices. With impressive recent cost reductions, which remain on track to continue, the firm sees First Solar regaining the mantle of solar’s cost leader and being able to extend that lead. Oppenheimer anticipates the company will be able to outbid peers on a price basis going forward and still see expanding project margins, but the firm is somewhat cautious on the mix shift becoming too heavily weighted to module sales. Shares of First Solar were down 1.1% at $48.55 on Wednesday. The stock has a consensus analyst price target of $62.00 and a 52-week trading range of $39.18 to $73.78.

SolarCity Corp. (NASDAQ: SCTY) was initiated with an Outperform rating and a 12- to 18-month $66 price target, implying an upside of 38%. Oppenheimer believes the company has significant scale advantages and a differentiated financing strategy, positioning the company to benefit from what is expected to be a robust North American solar installation market through and beyond 2016. Shares of SolarCity were down 3.7%, at $48.26 in its 52-week trading range of $34.65 to $75.90. The stock has a consensus analyst price target of $78.17.

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SunPower Corp. (NASDAQ: SPWR) was initiated with an Outperform rating and a $31 price target, implying upside of 28%. As part of Total’s portfolio of companies with differentiated technology that can be levered across diverse end markets (Total owns a majority stake in this company), the Oppenheimer sees SunPower as well-positioned to maintain its place as a pioneering solar platform. SunPower shares were up 1.1% at $24.37, well below its consensus price target of $38.31. The 52-week trading range is $18.25 to $38.66.

SunEdison Inc. (NYSE: SUNE) was initiated with an Outperform rating and an $18 price target, implying upside of 44%. Oppenheimer sees this company positioning to become the leading global diversified renewables platform in what it expects will be a robust market for renewable energy. Shares of SunEdison were down 2.8%, at $12.57 in its 52-week range of $8.10 to $33.45. The consensus price target is $28.83.

Tesla Motors Inc. (NASDAQ: TSLA) was initiated with an Outperform rating and $340 price target, implying upside of 35%. The firm views Tesla as a transformative battery-powered product company with leading expertise in cell design, packaging, associated software, and human-machine and machine-machine interaction design. Shares of Tesla were up 1.7% at $252.48. The consensus price target is $290.21, and the 52-week range is $181.40 to $286.65.

Canadian Solar Inc. (NASDAQ: CSIQ) was initiated with an Outperform rating and a $43 price target, implying upside of 125%. As one of the three largest module producers and having its own manufacturing cost advantage, a well-structured balance sheet and a robust project business in Asia and the Americas, this company is well positioned to see outsized benefit from global solar growth, according to the brokerage firm. Canadian Solar shares were up 1.3%, at $19.10 in its 52-week trading range of $14.16 to $40.82. The consensus price target is $38.29.

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