UPDATE: Northland Capital Markets Starts SolarCity (SCTY) at Outperform
Get Alerts SCTY Hot Sheet
Rating Summary:
4 Buy, 15 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 0
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Northland Capital Markets initiated coverage on SolarCity (NASDAQ: SCTY) with an Outperform rating and a price target of $65. Analyst Colin Rusch thinks SolarCity has scale advantages that position it to benefit from a robust solar installation market.
"We believe SCTY will achieve 1M customer target by mid-2018, as distributed PV is economically competitive throughout U.S. even at lower federal ITC. We believe that declining installed costs, rising electricity prices, and low cost of capital will create large addressable solar demand even with a decline in federal incentives. We note that the state-level policy environment offers both opportunities and threats and are watching for the solar industry’s balance of offense/defense," said Rusch.
For an analyst ratings summary and ratings history on SolarCity click here. For more ratings news on SolarCity click here.
Shares of SolarCity closed at $56.53 yesterday.
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