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Stock Market & Financial Investment News

News Breaks
January 7, 2013
10:38 EDTSCTYSolarCity surges after analysts roll out research coverage
SolarCity (SCTY), which leases and sells solar energy systems, is climbing after a number of research firms began covering the stock with upbeat notes earlier today. Needham analyst Y. Edwin Mok initiated coverage of the name with a Buy rating and $17 price target. SolarCity's leasing model will be sustainable for at least two more years, enabling it to grow its business and control a larger share of solar assets, the analyst believes. The stock is attractive for longer term investors who are looking to leverage the strong growth of the U.S. residential solar market, Mok wrote. Also bullish on SolarCity was Credit Suisse, which initiated coverage of the shares with an Outperform rating and $22 price target. SolarCity's margins and valuation are attractive, the firm believes. The company is also benefiting from rising retail electricity prices, low interest rates, and stable federal incentives, according to Credit Suisse. Also today, Goldman Sachs initiated coverage of SolarCity with a Buy rating and $18 price target, Bank of America/Merrill Lynch started the stock with a Buy rating and $21 price target, and Roth Capital initiated coverage of the shares with a Buy rating and $20 target. In mid-morning trading, Solarcity climbed $1.80, or 12.50%, to $16.20.
News For SCTY From The Last 14 Days
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December 18, 2014
09:13 EDTSCTYSolarCity expands operations to Western Massachusetts
SolarCity is expanding its solar service to Western Massachusetts with a new operations center in Agawam. The new operations center is its fourth in Massachusetts. SolarCity will initially offer service to customers of National Grid and Western Massachusetts Electric in the region. There are approximately 30 staff working out of the Western Massachusetts operations center today and the company plans to fill an additional 50 positions for the facility.
07:13 EDTSCTYSolarCity, Canadian Solar called top 2015 solar picks at JPMorgan
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December 16, 2014
08:48 EDTSCTYSolarCity reiterated as a top pick at Goldman
Goldman reiterated SolarCity as a Conviction Buy and a top pick with an $88 price target given secular growth potential and its disruptive business model. The analyst said SolarCity's near-term improving cash flow visibility is underappreciated and sees significant upside to shares.

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