SolarCity (SCTY) Buy Rating Reiterated at Deutsche Bank

Deutsche Bank reiterated a Buy rating on SolarCity (NASDAQ: SCTY) with a price target of $90, suggesting potential upside of 47%. Analyst Vishal Shah sees several catalysts for the stock, including Yieldco valuation, TAM expansion, and Tesla's (NASDAQ: TSLA) battery announcement.

"While negative headlines from Arizona weighed on SCTY shares earlier in the year, we believe + legislation in California, NY and elsewhere to act as a positive policy catalyst for shares over the next 12-18 months. Moreover, we expect a significant ramp in salesforce to translate into record bookings, new metrics to help investors better understand cash flow and upcoming battery announcement from TSLA to significantly improve the long term outlook for the stock," said Shah.

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 $61.17 yesterday.

You May Also Be Interested In

• Stifel Starts Arrowhead Pharma (ARWR) at Buy
• Canaccord Starts Apotex Health Corp (APTX:CN) at Buy
• Q32 Bio Inc. (QTTB) PT Raised to $36 at Mizuho