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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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October 6, 2015
08:07 EDTSCTYSolarCity and TVUSD to install 6MW solar project
SolarCity and Temecula Valley Unified School District, or TVUSD, are together installing a six megawatt solar and energy storage project across 19 schools and the district's administrative office. The project, which includes energy storage systems at five sites, required no upfront investment and is expected to save the district more than $520,000 within the first year of operation alone, and $35M over 25 years by providing affordable power at a discount to utility rates. TVUSD chose a SolarCity Power Purchase Agreement, which allows the district to pay for only the power the systems produce at a fixed rate that is less than what it is currently offered by the local utility.
October 1, 2015
09:10 EDTSCTYSolarCity selloff overdone, remains a top pick at Goldman
Goldman said the selloff in SolarCity shares is overdone and remains a top pick across solar coverage. Analyst Brian Lee believes shares are poised to benefit from second half catalysts that include the November analyst day, incremental data around financing, and continued execution. Lee reiterates his Conviction Buy rating and $79 price target on shares.
September 24, 2015
10:01 EDTSCTYOn The Fly: Analyst Initiation Summary
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06:14 EDTSCTYSolarCity initiated with a Buy at Stifel
Target $64.
September 22, 2015
10:14 EDTSCTYOptions with decreasing implied volatility
Options with decreasing implied volatility: CVC ADXS SRPT ATML YY SCTY OLN ADBE RHT ASNA

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