Roth Capital Reiterates Buy On SolarCity Following Investor Meetings
In a research report sent to investors today, Roth Capital analyst Philip Shen reiterated a Buy rating on SolarCity (NASDAQ:SCTY) with a price target of $98, following investor meetings with SCTY’s VP of IR, Aaron Chew.
Shen noted, “Looking ahead, we believe the adverse impact due to fixed pricing on the unit economics of SCTY’s business may have stabilized and found a bottom. With the stock down 30% over the past three months and the market only giving credit to SCTY’s business through 2016, we believe shares at current levels represent an attractive entry point.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Philip Shen has a total average return of -7.1% and a 27.5% success rate. Shen has a -12.2% average return when recommending SCTY, and is ranked #3295 out of 3376 analysts.