Vetr Crowd Even More Bullish On SolarCity
- Over the first ten months of 2015, shares of SolarCity Corp (NASDAQ: SCTY) lost more than 44 percent.
- However, over the past month, the stock has recuperated over 58 percent of its value and is now down 23 percent year-to-date.
- As the recuperation continues, the Vetr Crowd decided to upgrade the stock’s rating from 4 stars to 4.5 stars.
Broadly speaking, the Vetr Crowd is becoming increasingly bullish on small-, mid-cap renewable energy company SolarCity. On Tuesday, they upgraded the stock from four stars to 4.5 stars, although only 46 percent of the Crowd's ratings are bullish. It should be noted that the site’s algorithm considers several factors on top of Buy, Hold or Sell ratings to award stars.
The Vetr Crowd has established a $47.84 target price for the stock, which implies an upside potential of almost 13 percent from current prices. Wall Street is slightly more bullish, and sports an average price target of $58.88, Vetr assured.
Not In Full Agreement
Although the Crowd seems quite bullish on SolarCity and the average price target for the Street suggests an optimistic view, the fact is that recent Wall Street ratings have not been very positive.
About a month ago, analysts at Bernstein initiated coverage on the stock with a Market Perform rating and a $30 price target, which was reached on late-November. A couple of weeks earlier, Baird had downgraded the stock from Outperform to Neutral, and Goldman Sachs had demoted it from Conviction Buy to Neutral.
On the other hand, Oppenheimer issued an Outperform rating and $58 price target, and Roth Capital had rated the stock a Buy, accompanied by a $70 price target.
Disclosure: Javier Hasse holds no positions in any of the securities mentioned above.
Image Credit: Public Domain
Latest Ratings for SCTY
|Nov 2016||Axiom Capital||Downgrades||Hold||Sell|
|Oct 2016||Axiom Capital||Upgrades||Sell||Hold|
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