SolarCity Corporation (SCTY) Receives Price Target

SolarCity Corporation (SCTY) : The most positive equity analysts on SolarCity Corporation (SCTY) expects the shares to touch $26, whereas, the least positive believes that the stock will trade at $20 in the short term. The company is covered by 8 Wall Street Brokerage Firms. The average price target for shares are $24.19 with an expected fluctuation of $1.77 from the mean.

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.


Also, Equity Analysts at the Baird downgrades the rating on SolarCity Corporation (NASDAQ:SCTY). The brokerage firm has issued a Neutral rating on the shares. The shares were previously rated Outperform. The Analysts at the ratings agency lowers the 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): The stock opened at $20.71 on Thursday but the bulls could not build on the opening and the stock topped out at $20.74 for the day. The stock traded down to $18.31 during the day, due to lack of any buying support eventually closed down at $18.78 with a loss of -9.10% for the day. The stock had closed at $20.66 on the previous day. The total traded volume was 8,636,071 shares.

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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