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Fly News Breaks for February 8, 2016
SCTY
Feb 8, 2016 | 07:26 EDT
Deutsche Bank analyst Vishal Shah reiterates a Buy rating on SolarCity with a $64 price target in a research note addressing recent investor concerns. The seller of renewable energy closed Friday up 8c to $29.57. The shares are likely pricing in a worst case scenario, Shah tells investors. He believes the recent five-year extension of the federal Investment Tax Credit for solar could add $30 of incremental equity value. The analyst also believes concerns around SolarCity's availability of capital to achieve 2016 installation targets maybe overblown. The company has sufficient access to tax equity markets and can sell operating assets to achieve growth objectives, Shah contends.
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