SolarCity Corp (SCTY): Demand For Solar Panels Augers Well

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SolarCity Corp (SCTY): Demand For Solar Panels Augers Well
By BrokenSphere (Own work) [CC BY-SA 3.0 or GFDL], via Wikimedia Commons

SolarCity Corp (NASDAQ:SCTY) has its Outperform rating reiterated and price target raised from $71 to $81 by Baird Equity Research analysts Ben Kallo and Tyler Frank.

We have updated our NPV model to include higher MW deployments in 2016 and discounted the cash flows to YE:2014. We believe SolarCity Corp (NASDAQ:SCTY) is on track to meets its 2014 guidance of 475 MW-525 MW after its recent expansion of 10 operating centers in Northern California. SolarCity remains our top pick as it is levered to the rapidly growing U.S. residential and commercial solar markets.

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