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Fly News Breaks for February 10, 2016
SCTY
Feb 10, 2016 | 08:54 EDT
As previously reported, Raymond James upgraded SolarCity to Strong Buy from Outperform and lowered his price target to $60 from $75 on shares. Analyst Pavel Molchanov said the Q4 miss and softer Q1 guidance has brought shares to the lowest level since 2013, a discount to NPV, while the big picture is unchanged. Molchanov views the drop in shares as a buying opportunity and valuation is pricing in zero credit for any future growth.
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