Roth Capital Reiterates Buy On SolarCity Shares Following NY/Silevo Deal
In a research report issued today, Roth Capital analyst Philip Shen reiterated a Buy rating on SolarCity (NASDAQ:SCTY) with a price target of $98.
Shen explained, “We believe the NY/Silevo deal is a substantial win for SCTY . While headline capex appears to be $900mn for 1GW of capacity, SCTY is only responsible for $150mn. The company is also responsible for $5bn of economic activity over 10 years. Our back-of-the-envelope analysis suggests that the ~$500mn of implied annual economic impact is achievable assuming 1GW of shipments/ year. We continue to wait for details around capacity ramp-up, volumes, and cost targets.
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 3.9% and a 47.5% success rate. Shen has a -7.2% average return when recommending SCTY, and is ranked #1091 out of 3300 analysts.