Deutsche Bank Slaps $90 Price Target On SolarCity

Following earnings on Wednesday, Deutsche Bank analyst Vishal Shah reiterated a bullish case for SolarCity Corp SCTY and $90 price target, suggesting 68 percent upside for the stock.

While many thought the Q4 earnings report was weak, with a larger-than-expected loss, Shah said that it showed “strong execution” and a “robust demand environment.” The analyst thesis relies on “accelerating demand trends” in the U.S. over the next few quarters. That, combined with the fact that SolarCity is farther along in its cost reduction plan, made the company one of Deutsche Bank’s “top picks in the solar space.”

SolarCity was down 6.5 on the day, trading at $53.37.