Bank Of America: SolarCity A 'Compelling Opportunity'

Analysts at Bank of America reiterated a Buy rating on SolarCity Corp SCTY, telling clients that with the "attractive valuation" and "catalysts ahead," it sees the price moving to $95 in the next year. That price objective marks a nearly 75 percent upside from Wednesday's closing price of $54.33.

The stock is trading more than 2.7 percent higher Thursday, last at $55.83.

Specifically, the catalysts include clarity in retail rate and net metering policies, improved bookings and the installation mix. Bank of America also expects SolarCity to issue good guidance for 2016.

Year-to-date, SolarCity has been on a bumpy ride, fluctuating widely between $47.50 and $58.12. The $95 price objective is determined using a levered cash flow analysis of SolarCity's "operating assets and development pipeline."