Seeking Alpha

Baird upgrades SolarCity to Outperform, shares +6% premarket

  • Baird's Ben Kallo declares SolarCity's (SCTY) effort to sell solar asset-backed securities makes it "one of the most innovative public solar financing companies."
  • He's lowering the discount rate he applies to SolarCity's projects to account for the relatively low 4.8% interest rate attached to the company's asset-backed debt, and expects shares will "react favorably as investors recalibrate their expectations."
  • Shares have now recouped a majority of the losses they saw following SolarCity's Nov. 6 Q3 report.
Comments (1)
  • phoneman22644
    , contributor
    Comments (2) | Send Message
     
    SCTY's business model and managerial team make purchase of this stock a no brainer.
    14 Nov 2013, 08:11 AM Reply Like
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