Market Overview

J.P. Morgan Reiterates on SolarCity as 3Q Results Align with Positive Preannouncement

Share:
Related
Gordon Johnson's SolarCity Warning: Are Analysts Incorrectly Giving Company Credit For Cash It Can't Get?
Chanos: I'm Short Tesla And SolarCity
Will SunPower's Expected Q1 Loss Torch First Solar, SolarCity? (Investor's Business Daily)

In a report published Thursday, J.P. Morgan analyst Paul Coster reiterated an Overweight rating and $68.00 price target on SolarCity (NASDAQ: SCTY).

In the report, J.P. Morgan noted, “SolarCity posted 3Q results that largely aligned with expectations, which is no surprise given the 10/11 positive preannouncement. That said, key performance metrics such as retained value and retained value/watt were ahead of expectations, suggesting positive momentum toward the firm's long-term goals. 4Q guidance largely aligns with our expectations, ex. one-time charges, and 2014 MW deployment target is unchanged, so the growth momentum around retained value remains on track. We are adjusting our financial estimates slightly though our operating metrics such as bookings, retained value, etc., are largely unchanged. Our price target remains $68. Maintain Overweight.”

SolarCity closed on Wednesday at $59.65.

Latest Ratings for SCTY

DateFirmActionFromTo
May 2016Guggenheim SecuritiesInitiates Coverage onBuy
May 2016Credit SuisseMaintainsOutperform
Mar 2016Morgan StanleyMaintainsOverweight

View More Analyst Ratings for SCTY
View the Latest Analyst Ratings

Posted-In: J.P. Morgan Paul CosterAnalyst Color Reiteration Analyst Ratings

 

Related Articles (SCTY)

View Comments and Join the Discussion!