Cowen Starts Solar3D (SLTD) at Outperform
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Cowen initiates coverage on Solar3D (NASDAQ: SLTD) with a Outperform rating and a price target of $5.00, citing strong growth prospects with regional solar installation model.
Analyst Jeffrey Osborne commented, "We see the roll-up strategy of regional installers in California as a sound move given the strong growth prospects in the western U.S. We see California in particular as least exposed to the pending expiration of the solar investment tax credit (ITC) at the end of 2016 given the economics of solar are still very compelling. In addition, we highlight the company is focused solely on cash/loan business offerings and is not bogged down by lease accounting or retained projects on the balance sheet."
Shares of Solar3D closed at $3.47 yesterday.
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