Referenced Stocks

Analyst Actions: SolarCity Coverage Initiated With Outperform, TP of $22; Shares Hit 52-Week High, Up 12%,

By MT Newswires,  January 07, 2013, 12:30:09 PM EDT

Analysts at Credit Suisse have initiated coverage of SolarCity Corp. ( SCTY ) with an Outperform rating and a price target of $22 a share.

"SolarCity is a rapidly growing energy service provider in the distributed solar generation market," said the firm. "Lower panel prices, rising retail electricity prices, low interest rates, and stable federal incentives have enabled a relatively new class of companies such as SCTY to become viable.

Credit Suisse added that "we expect stable pricing; key utilities in SCTY's markets have applied for rate increases of 5-10% to the CPUC."

Shares of SCTY have jumped more than 12% to $16.15, backing off a new 52-week high of $16.40 hit earlier today.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Commodities

Referenced Stocks: SCTY



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