UPDATE: Canaccord Initiates Coverage On Solar City, Sees High Growth Potential
In a report released Wednesday, Canaccord analyst Josh Baribeau initiated coverage on Solar City (NASDAQ: SCTY) with a Buy rating and $94 price target.
Analysts at Canaccord favor Solar City because it is the largest installer domestically and believe it will continue to grow and reduce component costs and capital costs.
Baribeau values the company's future cash flow stream and predicts the company's cash flows to increase dramatically from its high margin contracts in the next two to three years.
Canaccord predicts the Solar leader to be well-positioned to pass analysts consensus of system deployments and gain value for shareholders.
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