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Fly News Breaks for February 12, 2016
SCTY
Feb 12, 2016 | 08:56 EDT
Morgan Stanley analyst Stephen Byrd said SolarCity risk/reward remains attractive at current levels and potential asset montizations could be a positive catalyst for shares. The analyst reduced his price target on SolarCity to $78 from $104 due to higher funding costs, higher near-term operating costs, and lag between investment and deployments. Byrd said SolarCity shares are trading near existing asset value, reflecting no incremental growth beyond mid-2016, something he sees as unlikely, and reiterates his Overweight rating.
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