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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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April 23, 2014
10:00 EDTSCTYSolarCity modules won't be used by Tesla in China network, DigiTimes says
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April 22, 2014
10:48 EDTSCTYSunPower, SolarCity rise after bullish comments from analysts
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April 17, 2014
09:59 EDTSCTYOn The Fly: Analyst Upgrade Summary
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05:35 EDTSCTYSolarCity upgraded to Outperform from Neutral at RW Baird
RW Baird upgraded SolarCity to Outperform citing the recent pullback in shares and expectations the U.S. rooftop market will accelerate over the next several years. The firm keeps a $75 price target for the stock.
April 10, 2014
08:15 EDTSCTYSolarCity risk/rewards favorable, says Goldman
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