SolarCity volatility may move on upgrade to Conviction Buy at Goldman SolarCity option implied volatility may pick up on upgrade to Conviction Buy from Neutral at Goldman. Overall option implied volatility of 67 is above its 26-week average of 63 according to Track Data, suggesting large price movement.
Solar stock weakness seems overdone, says JPMorgan JPMorgan attributes the 7% selloff in Tier-1 solar company stocks since May 15 to negative news from Yingli (YGE) and Hanergy Thin Film. The firm believes Yingli's issues are company-specific and that Trina Solar (TSL) results are a better barometer for the solar industry than Yingli and Hanergy. The firm's top picks in Alternative Energy are Canadian Solar (CSIQ) and SolarCity (SCTY). It also has Overweight ratings on Cree (CREE), Enphase Energy (ENPH) and Veeco (VECO).