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Fly News Breaks for July 18, 2016
SCTY
Jul 18, 2016 | 10:29 EDT
Baird analyst Ben Kallo said the new $345M raised by SolarCity in tax equity will support 2H 2016 growth. The analyst said the raise will help to cover the cost of new installations and equipment and displays sustained interest in renewable project financing. Kallo expects additional financing partnerships over time as investors become more comfortable with renewable energy projects. The analyst rates SolarCity an Outperform with a $37 price target on shares.
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