SolarCity (SCTY) PT Raised to $99 at Credit Suisse Following Q1 Results

Credit Suisse analyst P. Jobin reiterated an Outperform rating and lifted his price target on SolarCity (NASDAQ: SCTY) to $99.00 (from $97.00) after the company Q1 results that exceeded the firm's expectations on volumes while also unveiling additional disclosure metrics.

Jobin commented, "Genen our solidifying confidence in the growth outlook and increased transparency from the value-creation metrics, we increase our Q2 and 2015 volume projections and increase our Target Price to $99 (from $97). We would view any weakness (post-market stock down marginally) as a buying opportunity."

The firm adjusted EPS to ($5.80)/($3.91) for 2015/16 and introduce 2017 at ($1.15).

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 $59.28 yesterday.

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