Goldman Sachs analyst Christopher Merwin upgraded ReneSola to Buy from Neutral with a price target of $180, up from $147. The shares closed Friday down $1.78 to $149.22.

After a "strong" fiscal Q3 report, the analyst sees "several catalysts" for Splunk shares to positively re-rate over the next 12 months. These include a new pricing model that decouples revenue from indexed log volume, newly-reported annual recurring revenue growth, and "de-risked" cash flow expectations through fiscal 2023.

For a company that is growing annual recurring revenue over 50%, and should continue to grow at least mid-40% through next year per management guidance, Splunk's current valuation of eight-times 2020 sales is "undemanding," Merwin tells investors in a research note.