Baird Downgrades SolarCity (SCTY) to Neutral on Changing Metrics

Baird downgraded SolarCity (NASDAQ: SCTY) from Outperform to Neutral with a price target of $65.00 (from $76.00), saying they are moving to the sidelines as the market absorbs changing metrics.

Analyst Ben Kallo commented, "Although SCTY remains a leader in the U.S. residential market, the company will soon introduce “levered retained value,” which will be optically negative, and we believe the current regulatory environment creates market and headline risk. We believe SCTY likely exceeded its Q1 deployment guidance, although 2015 will be 2H weighted and SCTY’s shifting mix should impact margin over time. We are moving to the sidelines."

For an analyst ratings summary and ratings history on SolarCity click here. For more ratings news on SolarCity click here.

Shares of SolarCity closed at $61.62 yesterday.

You May Also Be Interested In

• Keefe, Bruyette & Woods Upgrades Trustmark (TRMK) to Outperform
• Bank of N.T. Butterfield (NTB) PT Raised to $38 at Piper Sandler
• RBB Bancorp (RBB) PT Raised to $22 at Keefe, Bruyette & Woods