Canaccord Initiates Coverage On Solar City, High Growth Potential

In a report released Wednesday, Canaccord analyst Josh Baribeau initiated coverage on Solar City

giving the company a Buy rating with a $94 price target. Analysts at Canaccord favor Solar City because they are the largest installer domestically and believe they will continue to grow and reduce component costs and capital costs. Baribeau values the company's future cash flow stream and predicts the company's cash flows to increase dramatically from its high margin contracts in the next two to three years. Canaccord predicts the Solar leader to be well positioned to pass analysts consensus of system deployments and gain value for shareholders.