SolarCity's (SCTY) Exec Changes Seem Sudden, But Following Key Pivot - Roth Capital

Roth Capital reaffirms SolarCity (Nasdaq: SCTY) with a Buy rating and $55 price target after the company announced key management changes.

Analyst Philip Shen commented, While this feels sudden, we believe this management transition stems from the recent strategic pivot. Ahead of the 12/15 analyst day and taken in the context of a strong 2016/transition into 2017, it was likely better to get this message out now— rather than wait until H2'16. Notably, Mr. Serra has assumed the President title (responsible for sales, operations/installations, and finance) and may also assume the CFO title in 2016.

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

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