SolarCity (SCTY) PT Lowered to $76 at Baird Post Q4

Baird analyst Ben Kallo reiterated an Outperform rating on SolarCity (NASDAQ: SCTY) but lowered his price target to $76.00 (from $83.00) following Q4 results.

Kallo commented, "SCTY slightly missed its installation guidance largely driven by commercial project push-outs, but continued to reduce costs, maintained full-year installation guidance, has secured the majority of its 2015 financing requirements, and is seeing strong Q1 bookings. U.S. market demand and fundamentals remain strong, although shares could face pressure from concerns over the steep ramp needed to meet installation targets, additional metrics which complicate the story, and potential pressure on retained value."

The firm lowered FY 2015 EPS from ($4.75) to ($6.21).

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 $57.10 yesterday.

You May Also Be Interested In

• Bernstein SocGen Group Upgrades Analog Devices (ADI) to Outperform
• Legence Corp (LGN) PT Raised to $130 at Tigress Financial Partners
• Moderna (MRNA) PT Raised to $89 at Morgan Stanley