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Baird Upgrades SolarCity (SCTY) to Outperform

April 17, 2014 6:38 AM EDT
Get Alerts SCTY Hot Sheet
Price: $0.01 --0%

Rating Summary:
    4 Buy, 15 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 8 | Down: 5 | New: 36
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Baird upgraded SolarCity (NASDAQ: SCTY) from Neutral to Outperform with a price target of $75.00 telling clients to buy on the sharp pullback.

Analyst Ben Kallo said, "SCTY's pullback of approximately 35% since Feb. 27 provides an excellent buying opportunity, in our view, on the stock most levered to the U.S. rooftop market, which will likely undergo a boom over the next several years. SCTY's cost reductions and scale continue to strengthen its position in the market. Additionally, innovative financing products, such as solar ABS', provide relatively low-cost capital for SCTY to capitalize on the expansive U.S. greenfield opportunity."

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 $56.11 yesterday.



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Robert W Baird