Market Overview

UPDATE: Goldman Sachs Initiates SolarCity at Buy on Compelling Value Proposition

Share:
Related
Deutsche Bank Sees Plus For SolarCity In California Rate Case
Morning Market Losers
SolarCity To Announce Q1 Results Tuesday (Investor's Business Daily)

Goldman Sachs initiated coverage on SolarCity (NASDAQ: SCTY) with a Buy rating and an $18 price target.

Goldman Sachs noted, "As the first pure play investment opportunity with leverage to the attractive US rooftop market, we expect SolarCity to grow volumes at a 30%-35% CAGR through 2016, leveraging a compelling value proposition, a large total addressable market, and a unique financing model which we expect to progressively enhance SolarCity's returns with increased scale. … Key near- to medium-term catalysts include: (1) securing additional capital commitments, (2) potential upside to recently issued 2013 MW guidance of 250MW, (3) large scale commercial and/or military contract wins and (4) faster-than-expected reductions in solar installation costs and/or continued declines in upstream solar ASPs"

SolarCity closed at $14.40 on Friday.

Latest Ratings for SCTY

DateFirmActionFromTo
May 2015BairdDowngradesOutperformNeutral
Apr 2015Northland SecuritiesInitiates Coverage onOutperform
Apr 2015Avondale PartnersInitiates Coverage onMarket Outperform

View More Analyst Ratings for SCTY
View the Latest Analyst Ratings

Posted-In: Goldman SachsAnalyst Color Initiation Pre-Market Outlook Analyst Ratings

 

Related Articles (SCTY)

Around the Web, We're Loving...