In a report published Thursday, Credit Suisse analyst Patrick Jobin reiterated an Outperform rating and $21.00 price target on Vivint Solar, Inc. VSLR.
In the report, Credit Suisse noted, "Vivint Solar reported Q4 results that exceeded guidance/estimates for metrics that mattered, including volumes, bookings, and 2015 guidance. Although the incremental value metrics appear messy again this quarter, additional disclosure from the company, including mix and SREC values should pacify most concerns on return degradation. As the Vivint Solar management teams builds more credibility with investors following the second reported quarter as a public company, we believe the ~50% relative value disconnect with SolarCity will narrow. We retain our Outperform rating and $21 Target Price, reflecting 146% upside."
Vivint Solar closed on Wednesday at $8.53.
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