Roth Affirms SolarCity (SCTY) at 'Buy' as CPUC Passes NEM 2.0

Roth Capital reaffirms SolarCity (Nasdaq: SCTY) at Buy with a price target of $65 amid news that the CPUC passed NEM 2.0.

Analyst Philip Shen commented, CPUC just passed NEM 2.0 with a vote of 3-2. The two No votes--Florio and Sandoval--both dissented primarily due to the elimination of transmission charges from the nonbypassable charges. They both indicated that they would have voted "Yes" had the NBC definition not been changed. All in, we see this as a material positive for SCTY's ability to access the ABS market over the near-term.

For Shen's earlier comments on SolarCity, click here.

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

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