Needham & Company Maintains Hold Following SolarCity (SCTY) Investor Meetings

Needham & Company maintains a Hold rating on SolarCity (NASDAQ: SCTY) following investor meetings. Analyst Edwin Mok says that SCTY is trading below fair value but views the discount as more structural. Mok also believes the stock will continue to trade at a discount to its fair value based on several longer-term risks.

Mok commented, "We recently had the opportunity to host investor meetings for SCTY's VP of IR Aaron Chew and the newly appointed SVP of Business Development and Investor Relations Radford Small. We came away incrementally more positive on SCTY's cost advantages and its competitive position in the U.S. residential market. While we continue to see the risk for lower pricing coming from loanbased offerings, we believe SCTY is structurally better positioned in 2017 and beyond following the ITC falloff. We believe the stock will continue to trade at a discount to its fair value based on several longer-term risks, until a more tangible catalyst emerges."

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 $55.86 yesterday.

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