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SolarCity Won't Get Burned By Brexit, Analysts Say

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SolarCity Won't Get Burned By Brexit, Analysts Say

Investors are scrambling to find out how their individual stocks or portfolio will perform following the Brexit vote.

Here's a look at how SolarCity Corp (NASDAQ: SCTY) and other solar-related names should perform, courtesy of analysts at Needham & Co. and Investopedia.

Investopedia cited a report by Needham's solar energy analyst Edwin Mok, saying SolarCity's business could very well be immune from the Brexit fallout given its lack of international exposure.

Related Link: Post-Brexit Analysis Shows Many ETFs Did Their Jobs

Mok added that if the Federal Reserve maintains interest rates at its current levels, then this would be a "positive" for the cost of capital for solar companies — specifically for SolarCity's bottom line.

On the other hand, the analyst suggested that the Brexit outcome could be a negative for solar module and inverter makers like First Solar, Inc. (NASDAQ: FSLR) and Solaredge Technologies Inc (NASDAQ: SEDG), as their revenue is priced in euro, which could affect their overall profit.

Latest Ratings for FSLR

DateFirmActionFromTo
Apr 2019ReiteratesBuy
Apr 2019ReiteratesBuy
Jan 2019Initiates Coverage OnOverweight

View More Analyst Ratings for FSLR
View the Latest Analyst Ratings

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