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Fly News Breaks for February 10, 2016
SCTY
Feb 10, 2016 | 07:32 EDT
Axiom analyst Gordon Johnson II said SolarCity's report of lower than projected installations in Q4 was a "big disappointment," but that the company's lower than expected Q1 installation guidance was an "even bigger blow to investor confidence." The analyst, who sees outsized risk for the company to make incremental guidance cuts through 2016, lowered his price target on the stock to $7, saying he sees imminent downside in the stock as "likely."
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