Canaccord Initiates Coverage on Real Goods Solar

In a note released July 2nd, Canaccord analyst, Josh Baribeau initiated coverage on Real Goods Solar, Inc. RGSE with a Buy rating and a $4 price target. Shares of Real Goods jumped up over five percent in the pre-market following the release of the Canaccord note and were holding right around the $3 mark, at last check. Baribeau said, "We believe it has ‘crossed the chasm' and is about to reach the critical mass needed to begin taking advantage of some of the financial innovation driving further growth and allowing the company to capture more value in the solar market." Looking forward, he expects the company to benefit from continuing pressure on the price of solar components and says it's likely that it will break-even later this year with potential profitability coming in 2015.