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UPDATE: Credit Suisse Initiates Coverage on SolarCity Corp. with Outperform Rating, $22 PT

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In a report published Monday, Credit Suisse Group initiated coverage on SolarCity Corp. (NASDAQ: SCTY) with an Outperform rating and $22.00 price target.

Credit Suisse noted, “We are initiating on SCTY with an Outperform rating and a $22 target price. 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 Corp. closed on Friday at $14.43.

Latest Ratings for SCTY

DateFirmActionFromTo
Apr 2015Northland SecuritiesInitiates Coverage onOutperform
Apr 2015Avondale PartnersInitiates Coverage onMarket Outperform
Feb 2015JP MorganMaintainsOverweight

View More Analyst Ratings for SCTY
View the Latest Analyst Ratings

Posted-In: Credit Suisse GroupAnalyst Color Initiation Analyst Ratings

 

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