Brokerage Firm Rating Update on SolarCity Corporation (SCTY)

SolarCity Corporation (SCTY) : 1 brokerage houses believe that SolarCity Corporation (SCTY) is a Strong Buy at current levels. 9 analysts believe that the current prices are in a balance with the stocks fundamentals, hence they propose Hold on SolarCity Corporation (SCTY). Zacks Investment Research suggests a Hold with a rank of 3. 1 others believe that the stock has run up ahead of its fundamentals and advise a Strong Sell on the stock.The median of all the 11 Wall Street Analysts endorse the stock as a Hold with a rating of 3.

SolarCity Corporation (SCTY) : 8 Wall Street analysts covering SolarCity Corporation (SCTY) believe that the average level the stock could reach for the short term is $24.19. The maximum price target given is $26 and the minimum target for short term is around $20, hence the standard deviation is calculated at $1.77.


Company shares have received an average consensus rating of Hold for the current week Also, In a research note released to the investors, Baird downgrades its rating on SolarCity Corporation (NASDAQ:SCTY).The analysts at the brokerage house have a current rating of Neutral on the shares. Earlier, the shares were rated a Outperform by the brokerage firm. In a recent information released to the investors, Baird lowers the new price target from $37 per share to $25 per share. The rating by the firm was issued on August 2, 2016.

SolarCity Corporation (NASDAQ:SCTY): stock was range-bound between the intraday low of $17.87 and the intraday high of $18.6 after having opened at $18.5 on Wednesdays session. The stock finally closed in the red at $18.5, a loss of -2.06%. The stock remained in the red for the whole trading day. The total traded volume was 3,825,360 shares. The stock failed to cross $18.6 in Wednesdays trading. The stocks closing price on Thursday was $18.44.

SolarCity Corporation (SolarCity) sells renewable energy. The Company integrates the sales, engineering, installation, monitoring, maintenance and financing of its distributed solar energy systems. It offers long-term energy solutions to residential, commercial and government customers. It offers its customers the option to either purchase and own solar energy systems or to purchase the energy that its solar energy systems produce through various contractual arrangements. The Companys products, services and technologies include solar energy systems, customer agreements, grid control / energy storage systems, Zep solar mounting systems and software. The Companys wholly owned subsidiary, Zep Solar, Inc. (Zep Solar) licenses its Zep Groove technology to photovoltaic module and power electronics manufacturers, and supplies the Company with complementary mounting and grounding hardware. The Company served customers in 15 states and the District of Columbia, United States.

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