UPDATE: Credit Suisse Initiates SolarCity at Outperform on Attractive Margins and Pricing
Credit Suisse initiated coverage on SolarCity (NASDAQ: SCTY) with an Outperform rating and a $22 price target.
Credit Suisse commented, "SolarCity is a rapidly growing energy service provider in the distributed solar generation market. Lower panel prices, rising retail electricity prices, low interest rates, and stable federal incentives have enabled a relatively new class of companies such as SCTY to become viable. … Even excluding ~$0.60/Watt in post-contract value, we estimate SCTY to create an attractive ~$1.09/Watt of NPV on new bookings in 2013-15. SCTY's cumulative NPV created should exceed its current market capitalization as early as late 2014."
SolarCity closed at $14.40 on Friday.
Latest Ratings for SCTY
|Sep 2015||Stifel Nicolaus||Initiates Coverage on||Buy|
|Aug 2015||Morgan Stanley||Upgrades||Equal-weight||Overweight|
|Aug 2015||Cowen & Company||Initiates Coverage on||Market Perform|
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