Market Overview

Raymond James On SolarCity's Q4: Stock Reaction Will 'Mainly Hinge' On Guidance Increase


Speaking to Benzinga, Raymond James Analyst Pavel Molchanov said that SolarCity Corp's (NASDAQ: SCTY) fourth-quarter results scheduled for Wednesday after market close should not be seen as an earnings or even a revenue story.

"The metric that the market tracks most closely is deployments (MW installed)," Molchanov told Benzinga. "As of last year, guidance for 2015 is 900-1000 MW."

Molchanov suggested that the stock's reaction following the earnings release will "mainly hinge" on whether there is a guidance increase. The analyst added that he anticipates SolarCity will raise its 2015 deployment guidance, but not necessarily in its quarterly report on Wednesday.

Molchanov also said that oil prices have "essentially nothing to do" with the company, as oil is not used for power generation anywhere in the U.S. except for Hawaii. On the other hand, there are countries such as Japan where oil's use as a power generator is very relevant.

Shares of SolarCity closed Tuesday at $58.12.

Jayson Derrick and Brianna Valleskey contributed to this report.

Latest Ratings for SCTY

Nov 2016Axiom CapitalDowngradesHoldSell
Oct 2016Axiom CapitalUpgradesSellHold
Aug 2016Raymond JamesDowngradesStrong BuyMarket Perform

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