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Fly News Breaks for October 30, 2015
SCTY
Oct 30, 2015 | 05:27 EDT
Goldman Sachs analyst Brian Lee downgraded SolarCity to Neutral and cut his price target for shares to $41 from $79. For the second straight year, the company cut its full-year volume guide, Lee tells investors in a post-earnings research note. He believes SolarCity's strategy shift to prioritizing cash flow while de-emphasizing growth will drive more near-term uncertainty. The seller of renewable energy is trading down $7.12 to $30.95 in the pre-market following its Q3 results.
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