UPDATE: JPMorgan Downgrades SolarCity (SCTY) to Neutral

January 21, 2014 8:26 AM EST Send to a Friend
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Price: $56.85 +0.89%

Rating Summary:
    9 Buy, 3 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 11 | Down: 14 | New: 51
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(Updated - January 21, 2014 10:26 AM EST)

JPMorgan downgraded SolarCity (NASDAQ: SCTY) from Overweight to Neutral with a price target of $68.00 (unchanged).

"The stock is up 32% YTD and has traded through our $68 price target, with which we believe risk/reward is now more balanced. We believe that fundamentals remain constructive; the firm is doing an excellent job of reducing the cost of finance, expanding market reach, and increasing efficiency; however, at this price level some of the exogenous risks come into focus, including rising interest rates, competition, and growing opposition to distributed solar from utilities," said analyst Paul Coster.

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 $75.11 yesterday.


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